Stocks open modestly higher as earnings season come into focus

Stocks rose at the opening bell on Wednesday as investors turned their attention to a raft of better-than-expected earnings from banks. The S&P 500 rose 0.2% to 2,615. The Dow Jones Industrial Average advanced 68 points, or 0.3%, to 24,133. The Nasdaq Composite was up 0.2% to 7,039. The bullish tone comes as heads of U.S. corporations pronounce their optimism over the economy's health in recent company guidance. Also giving equities a boost, the People's Bank of China injected a record $83 billion into the country's banks as Beijing attempts to arrest its own slowdown. Shares for Bank of America Corp. rose after the financial institution reported revenue and profits higher than analysts' expectations.

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