US open: Stocks rise as corporate earnings beat forecasts

US stocks rose on Monday, lifted by stronger-than-expected corporate earnings.

At 1521 BST, the Dow Jones Industrial Average increased 0.09%, the S&P 500 edged up 0.14% and the Nasdaq grew 0.42%.

In contrast oil prices fell with the West Texas Intermediate crude down 2.02% to $45.04 per barrel and Brent down 2.1% to $46.60 per barrel at 1522 BST.

On the company earnings front, Bank of America shares gained after reporting a fall in second quarter profit that was better than analysts’ had forecast.

Charles Schwab shares reversed an earlier rise after posting an increase in second quarter revenue that exceeded estimates.

Hasbro Inc. shares fell even as the toy maker reported revenue and profit that beat forecasts, boosted by brand toys such as Star Wars and Frozen.

After the closing bell, International Business Machines, Yahoo and Netflix are slated to report.

Meanwhile, investors mulled over a failed military coup in Turkey. Six thousand people have been arrested following Friday’s attempted military coup in Turkey and President Recep Tayyip Erdogan has said parliament will consider introducing the death penalty for those thought to have committed traitorous acts against the state.

In currency markets, the dollar was trading down 0.57% against the pound and 0.28% versus the euro, but 0.83% stronger against the yen.

On the macroeconomic front, the National Association of Homebuilders/Wells Fargo Housing Market Index declined to 59 for July from 60 the prior month, compared with market expectations of an unchanged reading.