Wall Street stocks rose early Wednesday, adding to the prior day’s records, following strong US housing data and mostly solid corporate earnings. The gains were a continuation of the US market’s positive bent Tuesday, when the S&P 500 and Nasdaq finished at records following strong earnings from Netflix. US housing starts and building permits both notched strong gains in June, a sign homebuilders may finally be responding to soaring demand, according to government data. Home construction started last month jumped 8.3 percent, well above analyst expectations for a 3.3 percent increase.
Meanwhile, Morgan Stanley reported especially strong earnings, which rose 2.6 percent after reporting an 11.4 percent rise in second-quarter profits to $1.6 billion. About 35 minutes into trading, the Dow Jones Industrial Average was at 21,600.33, up 0.1 percent.—AFP