US STOCKS-Wall St rallies on China stimulus ahead of tech earnings

lunes 20 de abril de 2015 17:00 GYT

* Hasbro reports surprise revenue rise, shares jump

* IBM edges lower in extended trade after quarterly results

* Tech shares up ahead of earnings reports this week

* Indexes ends up: Dow 1.17 pct, S&P 0.92 pct, Nasdaq 1.27 pct (Updates IBM extended-trade prices, adds , detail on volume)

By Noel Randewich

April 20 (Reuters) - Wall Street ended sharply higher on Monday after China moved to stimulate its slowing economy while investors bought up technology stocks on cautious optimism on upcoming earnings reports.

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 lending and combat slowing economic growth.

A 2.28 percent rise in Apple Inc shares led the U.S. market higher, along with a 3.42 percent jump in IBM .

After the bell, IBM reported its 12th straight drop in quarterly revenue as it shed unprofitable businesses to focus on cloud-computing. The earnings exceeded low expectations, and IBM's shares edged down 0.17 percent in extended trade.   Continuación...