US STOCKS-S&P 500 on track to end at record; BoJ move adds fuel to rally

viernes 31 de octubre de 2014 14:51 GYT
 

* Expedia shares jump after results; GoPro rallies

* Abbvie shares rise after results, outlook

* Indexes up: Dow 1 percent, S&P 1 percent, Nasdaq 1.3 percent (Updates to late afternoon)

By Caroline Valetkevitch

NEW YORK, Oct 31 (Reuters) - U.S. stocks rose sharply on Friday, with the Dow hitting an intraday record high as the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its years-long package of incentives.

The Dow was on track to set a new closing record high as well, along with the S&P 500, after the December e-minis contract hit an intraday record.

Gains were broad, with the benchmark S&P 500 index posting 125 new 52-week highs and two new lows. The Nasdaq Composite recorded 218 new highs and 31 new lows. Among the biggest positives on the S&P 500, Abbvie shares rose 3.5 percent after the drugmaker reported quarterly earnings and said it could deliver strong long-term growth without rushing into another big merger attempt.

The Bank of Japan's board voted to accelerate purchases of Japanese government bonds while tripling its purchases of exchange-traded funds and real-estate investment trusts.

That could help the outlook for stocks, especially if the U.S. economy keeps improving and earnings beat expectations as they have been.   Continuación...