Stocks broadly higher…Twitter earnings tripled…Oil prices climb…
NEW YORK (AP) – Stocks opened broadly higher on Wall Street as company earnings reporting season gets into full swing. Toymaker Hasbro jumped in early trading and Twitter rose after both companies reported impressive results. Coca-Cola, defense contractor Lockheed Martin and appliance maker Whirlpool were also higher.
SAN FRANCISCO (AP) – Twitter said earnings in the first three months of the year more than tripled on strong ad demand while user numbers posted healthy growth. The company said the number of daily users rose 11% to 134 million for the first quarter of 2019.
UNDATED (AP) – Global oil prices are climbing in the wake of the U.S. move to impose sanctions on countries that buy Iranian oil. And analysts say prices could keep heading higher. Temporary waivers that allowed some countries to import Iranian oil will expire on May 2.
WASHINGTON (AP) – Sales of new U.S. homes increased 4.5% in March, the third straight monthly gain as the housing market appears to be cautiously recovering from a mortgage rate spike last year that caused homebuying to slump. The Commerce Department says that new homes sold at a seasonally adjusted annual rate of 692,000 in March, up from 662,000 in February. For the first three months of 2019, new-home sales are 1.7% higher than the same period a year ago.
DETROIT (AP) – U.S. auto safety regulators have expanded an investigation into malfunctioning air bag controls to include 12.3 million vehicles because the bags may not inflate in a crash. The probe involves parts made by made by ZF-TRW that were installed in Toyota, Honda, Kia, Hyundai, Mitsubishi and Fiat Chrysler vehicles from the 2010 through 2019 model years. As many as eight deaths may be linked to the problem.