The U.S. stock market as of today ended with a strong increase. The Dow Jones Industrial Average index rose 417.06 points (1.34%) to 31499.62. Standard & Poor’s 500 rose 44.59 points (1.19%) to 3,797.34. The Nasdaq Composite added 92.90 points (0.86%) to 10952.61 points.

U.S. stock market opens at — what’s going on right now?

Medtronic Plc stock is up 0.7%. The company, which is one of the largest medical device manufacturers in the world, plans to spin off its respiratory interventions and patient monitoring division into a separate firm.

U.S. oilfield services company Schlumberger, one of the largest in the world, announced it was renaming itself SLB. Its stock rose 3.45%.

Shares of Tesla (NASDAQ:TSLA) Inc. were down 1.5% on a Bloomberg report that the electric car maker lowered prices in China.

Berkshire Hathaway (NYSE:BRKb) Inc. gained 1.25%. The market value of U.S. billionaire Warren Buffett’s investment company is approaching and may even exceed that of Tesla, Barron’s wrote.

Traders are gearing up for a slew of quarterly reports to be released later this week. That includes Apple Inc. (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) Inc., Amazon.com Inc. (NASDAQ:AMZN). And Microsoft Corp (NASDAQ:MSFT) is reporting results.

The first results of U.S. companies’ Q3 reporting season didn’t bring much comfort to nervous investors, writes The Wall Street Journal.

About 20% of companies whose shares are included in calculating the stock index S & P 500, have already published financial results for the 3rd quarter, in 72% of cases earnings exceeded the consensus forecasts of analysts. That’s below the five-year average of 77%.

Meanwhile, almost two-thirds of experts believe that the U.S. economy is either already in recession or has a high chance of running into one within the next year, according to a survey by the National Association of Business Economics (NABE).

U.S. Treasury Secretary Janet Yellen said the current situation in the global economy is “dangerous and volatile,” while stressing that the U.S. economy is “healthy” and the financial system remains sound.

Yellen said during a speech in New York that, although at the moment she sees no signs of instability in the U.S. economy, U.S. President Joe Biden’s administration is “closely watching the financial risks” in the country.

Earlier, we reported that Asia-Pacific stock indices were mostly up, while Hong Kong’s Hang Seng was down 6.4 percent.