US STOCKS-Wall St ends higher as blue chips rally; Intel up late

martes 15 de abril de 2014 16:57 GYT
 

* Coca-Cola and Johnson & Johnson rally after results

* Tesla and Netflix slide, but Twitter jumps after deal

* Intel and Yahoo rise after the bell on results

* Dow up 0.6 pct; S&P 500 up 0.7 pct; Nasdaq up 0.3 pct (Updates to close, adds gains in Intel and Yahoo after the bell on results )

By Ryan Vlastelica

NEW YORK, April 15 (Reuters) - U.S. stocks ended a volatile session higher on Tuesday, lifted by gains in such blue-chip names as Coca-Cola and Johnson & Johnson, though persistent weakness in momentum names limited the Nasdaq's advance.

Coke and J&J, both Dow components, climbed after their results while recent outperformers fell, a sign that investors were rotating from growth stocks into value ones. In recent weeks, high-growth stocks have been under pressure after a meteoric rise in their prices took valuations to levels that appeared unsustainable.

The three major U.S. stock indexes fell for much of the session before rebounding in afternoon trading. The Nasdaq moved in a 108.77-point range, and at its lows of the day, it was within 0.3 percent of 3,934.53, the level that represents a 10 percent drop from its recent intraday peak, hit on March 6.

"The market is trying to stabilize, and investors are looking for high-quality names that have stability in their earnings and prices," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, Ohio. "This afternoon's move is part of that same flight to quality."   Continuación...