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US stocks open higher on mixed earnings

US stocks opened higher Tuesday after the long holiday weekend following mixed earnings reports from leading companies.

Five minutes into trade, the Dow Jones Industrial Average was up 1.03 points (0.01 percent) at 13,650.73.

The broad-based S&P 500 rose 5.04 (0.34 percent) to 1,485,98.

The tech-heavy Nasdaq Composite was up 0.73 (0.02 percent) at 3,135.44.

The positive US open followed tepid trading in Europe, where renewed concern about the banking sector surfaced, and Asia, where investors were disappointed by a Bank of Japan plan for boosting the economy.

Among US equities, Verizon, which missed earnings expectations, still mustered a 0.5 percent gain, while Johnson & Johnson, which offered a middling outlook, fell 0.4 percent.

Wall Street is digesting a "plethora of earnings reports," noted a Charles Schwab & Co. market update. "Verizon Communications Inc. posted softer-than-expected earnings and Johnson & Johnson offered mixed quarterly results, while Travelers Companies Inc. and DuPont both easily exceeded analysts' profit projections."