The bulls are back!

Written By limadu on Selasa, 21 Januari 2014 | 22.16

NEW YORK (CNNMoney)

The Dow Jones industrial average, the S&P 500 and the Nasdaq were all higher in early trading. U.S. markets were closed Monday for Martin Luther King, Jr. Day.

BlackBerry (BBRY) shares jumped in early trading amid ongoing hopes the smartphone maker's new CEO John Chen will turn the company around. After last year's drubbing, BlackBerry is the best performing stock in CNNMoney's Tech30 Index so far in 2014.

Related: Top stock picks from top pros

Stocks have been off to a rocky start in 2014. After last year's spectacular rally, investors are looking for signs the economy will be strong enough to keep the rally going. But with little economic data on the agenda this week, investors are turning their attention to the latest quarterly reports from big U.S. corporations.

Tuesday morning kicked off with results from Johnson & Johnson (JNJ, Fortune 500), Verizon (VZ, Fortune 500) and Delta (DAL, Fortune 500). Those three companies all posted earnings that topped forecasts.

IBM (IBM, Fortune 500) will report its results after the closing bell. A spate of company earnings will follow later this week from heavyweights such as Microsoft (MSFT, Fortune 500) and Netflix (NFLX).

Related: Fear & Greed Index still shows greed

Overall, earnings are expected to be up 5.9% in the fourth quarter for the companies in the S&P 500, according to FactSet Research. A few weeks ago, the forecast was for earnings growth of 6.3%, but the estimate was revised lower this week due to disappointing reports, including lower profits in the energy sector.

European markets posted slight gains in morning trading. Asian markets rose Tuesday, supported by China's central bank injecting billions into the financial system to boost liquidity.

Related: Big banks to stop offering payday-like loans

Chinese stocks were also supported by a spate of initial public offerings, which come after Beijing ended a 14-month IPO ban. To top of page

First Published: January 21, 2014: 9:47 AM ET


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