* S&P tech sector set to snap 10-day losing streak
* 1st-qtr S&P 500 profits estimated to have risen 10.4 pct
* Amazon up after Credit Suisse raises price target
* Indexes up: Dow 0.48 pct, S&P 0.46 pct, Nasdaq 0.52 pct
(Adds details, comments, updates prices)
By Yashaswini Swamynathan
April 17 U.S. stocks edged higher on Monday and
were on track to snap a three-day losing streak as investors
shifted focus to the first-quarter earnings season, with
geopolitical concerns taking a back seat.
After a post-election rally, investors are now looking at
corporate earnings to justify lofty valuations in the market.
Profits of S&P 500 companies are estimated to have risen
10.4 percent, according to Thomson Reuters I/B/E/S.
President Donald Trump's national security adviser, H.R.
McMaster, said on Sunday the United States, its allies and China
were working on a range of responses to North Korea's latest
failed ballistic missile test.
However, McMaster indicated that Trump was not considering
military action for now.
"We got in and out of the long weekend without any major
news or controversy on the geopolitical front," said Art Hogan,
chief market strategist at Wunderlich Equity Capital Markets in
"The anticipation of better earnings from the first quarter
may shift the momentum in the favor of this market at least in
At 11:03 a.m. ET (1503 GMT), the Dow Jones Industrial
Average was up 98.76 points, or 0.48 percent, at
20,552.01, the S&P 500 was up 10.62 points, or 0.46
percent, at 2,339.57 and the Nasdaq Composite was up
30.24 points, or 0.52 percent, at 5,835.39.
Ten of the 11 major S&P 500 sectors were higher, led by
technology, which was up for the first time in 11
Among stocks, Amazon.com was up 1 percent at
$893.86 after Credit Suisse raised its price target to $1050
from $900. The online retailer's shares also provided the
biggest boost to the S&P and the Nasdaq.
Netflix, which is scheduled to report results after
the market closes on Monday, was up 2.6 percent at $146.66,
boosting the S&P consumer discretionary sector.
Arconic was the biggest percentage gainer on the
S&P, with a 6 percent gain, after Chief Executive Klaus
Kleinfeld resigned amid pressure from activist hedge fund
Advancing issues outnumbered decliners on the NYSE by 1,986
to 828. On the Nasdaq, 1,736 issues rose and 921 fell.
The S&P 500 index showed four 52-week highs and no lows,
while the Nasdaq recorded 20 highs and 32 lows.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by