US STOCKS-Wall St bounces back with eyes on earnings, China

lunes 20 de abril de 2015 10:10 GYT

* Hasbro reports surprise revenue rise, shares jump

* Royal Caribbean falls as strong USD hurts onboard spending

* Indexes up: Dow 1.3 pct, S&P 0.9 pct, Nasdaq 0.9 pct (Updates to morning trading)

By Rodrigo Campos

NEW YORK, April 20 (Reuters) - U.S. stocks rose on Monday, cutting into the previous session's sharp decline, as China's steps to stimulate its slowing economy and as earnings, including those from Morgan Stanley, lured money back into equities.

In the second industry-wide cut in two months, China's central bank on Sunday reduced the amount of cash that banks must hold as reserves in a move to help spur bank lending and combat slowing growth.

Morgan Stanley shares rose 1 percent to $37.11 after the Wall Street investment bank reported a 60 percent rise in quarterly profit and raised its dividend by 50 percent to 15 cents per share.

Hasbro jumped 7.4 percent to $70.75 after the toymaker reported a surprise increase in revenue. Royal Caribbean fell 6.8 percent to $73.67 after it reported a 3.7 percent fall in revenue, saying a strong dollar hurt onboard spending by customers from outside the United States.

The market is responding to earnings that are good but not good enough to push stocks to new records, while concerns remain about currency effects, Greece and China, said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.   Continuación...