Brexit and results bear the trend on Wall Street

(Reuters) – The New York Stock Exchange opened slightly higher on Thursday, cautiously praising the Brexit deal between Britain and Europe and corporate earnings above expectations.

The Dow Jones index gained 93.03 points, or 0.34%, to 27,095.01 points and the Standard & Poor's 500, wider, rose 0.59% to 3,007.27 points after a few minutes of trading.

The Nasdaq Composite gained 0.46% at 8.1761.58 points at the opening.

A second agreement on the break-up between the UK and the European Union was concluded on Thursday, a few hours before the opening of a decisive European Council, but uncertainty remains as to its approval in the House of Commons.

British Prime Minister Boris Johnson said Thursday that the new agreement would achieve "a true Brexit".

"Although the agreement must be approved by the UK Parliament, this announcement, coupled with the US results, should bring the sentiment of the market," said Peter Cardillo, economist at Spartan Capital Securities.

On the stock market, the US bank Morgan Stanley gained 3.69% after posting a quarterly profit better than expected thanks to the increase in income from bond trading and its advisory business in mergers and acquisitions.

The streaming video group Netflix takes 5.07% after announcing a larger number of subscribers than expected.

On the other hand, the results below IBM's expectations disappoint, pushing the technology giant by 5.43%, at the back of the pack of the Dow Jones.

Statistics released shortly before the opening had no effect on the trend, whether it was the decline in business conditions in the Philadelphia area, the rise in jobless claims or the drop in housing starts.

(Laetitia Volga, edited by Patrick Vignal)