U.S. stocks open higher after earnings reports

3M, Caterpillar Earnings Have Stock Futures Soaring

3M, Caterpillar earnings boost Dow to another record close

Stocks are surging further into record territory on Wall Street, driven by more gains in technology and health care companies. AbbVie, a drugmaker, soared 13.8 percent after releasing a strong report of its own.

Wynn Resorts plunged after The Wall Street Journal reported allegations of sexual assault and harassment by CEO Steve Wynn. The S&P 500 increased 1.71 points, or 0.06 percent, to 2,839.25.

Enbridge Inc. lost 1.1 per cent to $47.05, while TransCanada Corp. fell 0.8 per cent to $57.24. The Nasdaq composite rose 41 points, or 0.6 percent, to 7,457.

Safe-play stocks like utilities and phone companies also rose, but homebuilders slumped after a sharp drop in new home sales last month.

Earnings news may continue to attract attention on Friday, with Intel (INTC), Starbucks (SBUX), E*Trade (ETFC), and Western Digital (WDC) among the companies releasing their quarterly results after the close of today's trading.

The rise lifted the S&P healthcare sector.SPXHC 0.89 percent as one of the best-performing S&P groups.

Of the S&P 500 companies that have already posted results, 78.8 percent have topped expectations, versus an average of 72 percent over the previous four quarters. The Nasdaq Composite Index, however, finished in negative territory but mostly flat on the day as technology shares have bounced around over the past two sessions.

The euro strengthened to the highest level in three years as European Central Bank President Mario Draghi pointed to the region's "robust pace of economic expansion, which accelerated more than expected in the second half of 2017".

The earnings helped investors looked beyond data that showed US economic growth unexpectedly slowed in the fourth quarter, due to a surge in imports.

Volume on USA exchanges was 6.58 billion shares, compared to the 6.81 billion average for the full session over the last 20 trading days.

Gold, natural gas and semiconductor stocks also came under pressure on the day, while utilities, pharmaceutical and chemical stocks showed strong moves to the upside. Shares of 3M rose 0.6 per cent in the morning session. The greenback was down 0.34 percent against a basket of major currencies.

The Nasdaq is up 507.77 points, or 7.4 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent.

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