US STOCKS-Wall St gains as earnings, confidence data beat expectations

martes 28 de octubre de 2014 14:39 GYT

* Amgen gains, Twitter falls following results

* Oct consumer confidence reading highest since 2007

* Indexes up: Dow 0.6 pct, S&P 0.7 pct, Nasdaq 1.3 pct (Updates to afternoon trading)

By Caroline Valetkevitch

NEW YORK, Oct 28 (Reuters) - U.S. stocks rose in afternoon trading on Tuesday as better-than-expected earnings eased worries about the outlook for corporate America and a consumer confidence reading hit the highest since 2007.

Amgen's stock was up 5.1 percent, among the top boosts for the S&P 500 and Nasdaq, following its results and forecast, while energy shares bounced back sharply from big declines Monday. The S&P 500 energy index was up 1.6 percent, leading S&P sector gains.

Helping the day's upbeat tone, U.S. consumer confidence rose in October to its highest since October 2007. The data overshadowed a separate report showing new orders for capital goods by U.S. businesses fell the most in eight months in September.

The majority of U.S. companies reporting third-quarter results have beaten analysts' expectations so far, easing some worries about the impact of weak global demand on corporate profits.

"Companies are managing to outperform in a period when the global economy is slowing," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "If the euro zone were to further slip into recession, that would take us into another chapter."   Continuación...