US stock indices gained on Wednesday on strong corporate earnings, led by megacap and chip shares. The benchmark S&P 500 rose to a fresh record high.
At 9:51 a.m. ET, the Dow Jones Industrial Average was up 98.72 points, or 0.26 per cent, at 38,620.08, the S&P 500 was up 21.59 points, or 0.44 per cent, at 4,975.82, and the Nasdaq Composite was up 70.17 points, or 0.45 per cent, at 15,679.17.
Shares of Ford Motor jumped 4.5 per cent, as the automaker raised first-quarter dividend. General Motors rose 1.7 per cent.
Snapchat owner Snap slumped 32 per cent after missing quarterly revenue estimates
Cybersecurity firm Fortinet jumped 3.3 per cent on better than expected fourth quarter profit.
US-listed shares of Alibaba Group Holding were lower 3.9 per cent following downbeat quarterly revenue.
At the opening bell, the Dow Jones Industrial Average rose 92.53…
