26 Apr '11, 9pm

US stocks surge on strong earnings

US stocks surge on strong earnings

NEW YORK: US stocks rose sharply on Tuesday amid a batch of solid company earnings reports and as investors awaited the outcome of a two-day Federal Reserve meeting. The Dow Jones Industrial Average leaped 115.49 points (0.93 percent) to finish at 12,595.37. The tech-rich Nasdaq Composite gained 21.66 points (0.77 percent) at 2,847.54 and the S&P 500, a broad measure of the markets, added 11.99 points (0.90 percent) at 1,347.24. The Dow index of 30 blue-chip stocks and the S&P 500 closed at their highest levels since June 2008. The Nasdaq closed a few points shy of its 2007 peak. Beyond that peak are levels last seen in 2001 as the dot.com bubble burst. "A bevy of better-than-expected earnings has brought buyers back into the fold after a lacklustre session yesterday," Briefing.com analysts said in a client note. Strong earnings from Ford, Dow member 3M and United Parcel S...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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