Strong corporate earnings boosted the markets to a higher open with the Dow climbing 74 points to 26,466. Nasdaq gained 37 points to 7448.

On the upside

Intel (Nasdaq: INTC) reported better than expected results for the fourth quarter.

Fourth quarter results for AbbVie (NYSE: ABBV) topped expectations.

Dell is mulling the possibility of acquiring the shares of VMware (NYSE: VMW) that it does not already own.

On the downside

Colgate-Palmolive (NYSE: CL) disappointed with lower fourth quarter earnings.

First quarter revenue for Starbucks (Nasdaq: SBUX) missed expectations.

J.P.Morgan downgraded Bed Bath & Beyond (Nasdaq: BBBY) from a Neutral rating to an Underweight rating and cut its price target from $21.00 to $18.00.

In the broad market, advancing issues were on par with decliners on the NYSE while advancers edged out decliners by nearly 6 to 5 on Nasdaq. The broader S&P 500 rose 8 points to 2,847. Bitcoin plummeted $340 to $10,809.