Stocks head higher in early trade; J&J gains

Associated Press
FILE - In this April 11, 2014 file photo, traders work on the floor of the New York Stock Exchange, Friday, April 11, 2014. World stock markets were mostly lower Tuesday, April 15, 2014, as Ukraine tensions continued to bubble and jitters about China's economy resurfaced. (AP Photo/Richard Drew, File)

NEW YORK (AP) — Stocks are opening higher on Wall Street as big-name U.S. companies turn in their latest financial results.

Johnson & Johnson and Coca-Cola both rose after reporting their earnings from the first quarter of the year.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to 1,840 in the first few minutes of trading Tuesday.

The Dow Jones industrial average rose 64 points, or 0.4 percent, to 16,348 and the Nasdaq composite rose 23 points, or 0.6 percent, to 4,046.

The stock market is recovering ground lost last week when investors worried about overpriced technology stocks.

Johnson & Johnson gained 2 percent after reporting higher profits thanks to restrained costs and a jump in prescription drug sales.