US stocks close higher as investors assess earnings reports

US stocks closed higher Tuesday as investors weighed a deluge of earnings reports.

Johnson & Johnson earned $457 million from coronavirus vaccine sales in the first quarter of 2022, according to a financial results statement released Tuesday.

The American pharmaceutical and consumer goods manufacturer reported $382 million in sales from vaccines outside the US.

Bank of America saw its net income fall but revenues rose in the first quarter.

US housing started rose unexpectedly in March to its highest since 2006, according to official data.

The yield on 10-year US Treasuries advanced nine basis points to 2.94%

The Dow Jones industrial average was up 500 points, or 1.45%, to close at 34.911.

The S&P 500 rose 70.52 points, or 1.61%, to 4,462, while tech-heavy Nasdaq gained 287.30 points, or 2.1%, to 13,619.

The VIX volatility index, known as the fear index, was down 3.61% to 21.37.

Gold fell 1.8% to $1,949.80 and silver was down almost 3.32% to 25.37.

Brent crude was down 5.25% to 107.22 and West Texas Intermediate fell 5.2% to $102.53.

Source: Anadolu Agency