US open: Stocks higher as investors digest bank earnings, PPI reading

(Sharecast News) - Major indices were in the green early on Tuesday as market participants looked past a breakdown in Middle East peace talks to thumb over a number of big name bank earnings and March's hotter-than-expected producer price index.

As of 1500 BST, the Dow Jones Industrial Average was up 0.24% at 48,332.28, while the S&P 500 advanced 0.53% to 6,922.48 and the Nasdaq Composite came out of the gate 1.07% firmer at 23,431.19.

The Dow opened 114.03 points higher on Tuesday, extending gains recorded in the previous session after Donald Trump claimed the US had been "called by the other side" and that Iran would "like to make a deal very badly".

Outside of further developments in the US and Israel's conflict with Iran, Tuesday's primary focus will be first quarter earnings from a number of major US banks, with Citigroup posting a 42% rise in firstquarter profit on Tuesday, lifted by heightened market volatility and stronger investmentbanking activity as geopolitical tensions fuelled sharp price swings across asset classes, while BlackRock reported betterthanexpected firstquarter results on Tuesday, even as the world's largest asset manager reported a slight dip in assets under management.

JPMorgan Chase posted Q1 results that topped Wall Street expectations on stronger-than-expected fixed income and investment banking revenue, while Wells Fargo reported better-than-expected first-quarter earnings of $5.25bn despite revenue growth of 6% to $21.4bn missing forecasts.

On another note, pharmaceutical and medical tech giant Johnson & Johnson raised its 2026 outlook on Tuesday after first-quarter results marginally beat Wall Street estimates on the back of strong growth from its oncology drug portfolio.

On the macro front, US producer prices rose more than expected in March, according to the Bureau of Labor Statistics, with the producer price index for final demand increasing 0.5% on the month, matching February's gain and following a 0.6% rise in January. On an unadjusted basis, final demand prices were up 4.0% in the year ended 31 March - the strongest annual increase since February 2023.

The monthly rise was driven by a 1.6% increase in final demand goods, the largest since August 2023, while prices for final demand services were unchanged. Excluding food, energy and trade services, the core index rose 0.2% in March after two consecutive 0.5% increases. Core prices were up 3.6% yearonyear, matching the fastest pace since November 2025. Energy costs were the main driver of goods inflation, with final demand energy prices jumping 8.5%. Gasoline surged 15.7%, accounting for nearly half of the overall increase, diesel fuel, jet fuel, heating oil, meats and primary basic organic chemicals prices also rose.

Elsewhere, the National Federation of Independent Businesses' smallbusiness confidence weakened in March, falling to 95.8 - down from 98.8 in February for its lowest reading since April 2025. The index now sits under its 52year average of 98, with NFIB chief economist Bill Dunkelberg saying the sharp rise in oil prices had unsettled both consumers and business owners, forcing firms to absorb higher input costs and pass them on to customers.

The uncertainty index rose four points to 92, well above its longterm average of 68, while reports of positive profit trends dropped 11 points to a net 25%, and the net share of owners expecting better business conditions fell seven points to 11% - the third monthly decline and the weakest level since October 2024.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Microsoft Corp. (MSFT) $393.43 5.62%

Salesforce.Com Inc. (CRM) $175.27 1.44%

Unitedhealth Group Inc. (UNH) $317.39 1.21%

International Business Machines Corporation (CDI) (IBM) $239.90 0.99%

Apple Inc. (AAPL) $261.20 0.94%

Nike Inc. (NKE) $43.30 0.91%

Goldman Sachs Group Inc. (GS) $898.15 0.83%

American Express Co. (AXP) $326.07 0.77%

3M Co. (MMM) $153.61 0.65%

Walt Disney Co. (DIS) $101.68 0.50%

Dow Jones - Fallers

Dow Chemical Co. (DOW) $38.91 -2.58%

Chevron Corp. (CVX) $187.52 -2.22%

Verizon Communications Inc. (VZ) $44.34 -2.14%

Merck & Co. Inc. (MRK) $118.77 -1.09%

Travelers Company Inc. (TRV) $299.42 -0.91%

Amgen Inc. (AMGN) $348.23 -0.85%

McDonald's Corp. (MCD) $302.25 -0.62%

Johnson & Johnson (JNJ) $236.85 -0.47%

Coca-Cola Co. (KO) $76.22 -0.31%

Caterpillar Inc. (CAT) $789.71 -0.26%

S&P 500 - Risers

Cadence Design Systems Inc. (CDNS) $294.45 10.39%

American Airlines Group (AAL) $12.01 9.62%

Expedia Group Inc. (EXPE) $246.44 9.33%

Synopsys Inc. (SNPS) $422.61 9.21%

Align Technology Inc. (ALGN) $184.85 7.98%

Oracle Corp. (ORCL) $167.32 7.83%

Gen Digital Inc. (GEN) $19.15 7.21%

Paypal Holdings Inc (PYPL) $48.12 6.68%

Illumina Inc. (ILMN) $128.21 5.96%

Adobe Systems Inc. (ADBE) $241.67 5.92%

S&P 500 - Fallers

Carmax Inc. (KMX) $42.62 -12.48%

Fastenal Co. (FAST) $44.28 -7.05%

Wells Fargo & Co. (WFC) $82.19 -5.13%

Corning Inc. (GLW) $167.76 -4.03%

Apache Corp. (APA) $38.19 -3.17%

American Tower Corp (Reit) (AMT) $175.30 -3.12%

Xcel Energy Inc. (XEL) $79.23 -3.06%

Celanese Corp. (CE) $66.13 -3.01%

Occidental Petroleum Corp. (OXY) $56.44 -3.00%

Philip Morris International Inc. (PM) $158.79 -2.87%

Nasdaq 100 - Risers

Cadence Design Systems Inc. (CDNS) $294.45 10.39%

Expedia Group Inc. (EXPE) $246.44 9.33%

Synopsys Inc. (SNPS) $422.61 9.21%

American Airlines Group (AAL) $12.01 8.80%

Gen Digital Inc. (GEN) $19.15 7.21%

Align Technology Inc. (ALGN) $184.85 7.05%

Paypal Holdings Inc (PYPL) $48.12 6.68%

Illumina Inc. (ILMN) $128.21 5.96%

Adobe Systems Inc. (ADBE) $241.67 5.92%

Workday, Inc. (WDAY) $119.74 5.80%

Nasdaq 100 - Fallers

Fastenal Co. (FAST) $44.28 -7.05%

Costco Wholesale Corp. (COST) $971.21 -2.64%

Kraft Heinz Co. (KHC) $22.24 -2.42%

T-Mobile Us, Inc. (TMUS) $188.35 -2.15%

Mondelez International Inc. (MDLZ) $57.60 -1.82%

Applied Materials Inc. (AMAT) $391.54 -1.67%

Qvc Group Inc Series A (QVCGA) $2.21 -1.33%

Vodafone Group Plc ADS (VOD) $15.55 -0.61%

Amgen Inc. (AMGN) $348.23 -0.59%

Western Digital Corp. (WDC) $345.80 -0.47%