US STOCKS-Wall St rises modestly as investors eye earnings

lunes 21 de abril de 2014 14:30 GYT
 

* S&P 500 coming off biggest weekly gain since July

* Earnings seen driving trading, dozens of names report this week

* Results from Netflix expected after the market close

* Indexes up: Dow 0.24 pct, S&P 500 0.31 pct, Nasdaq 0.52 pct (Updates to mid-afternoon, changes byline)

By Chuck Mikolajczak

NEW YORK, April 21 (Reuters) - U.S. stocks advanced modestly on Monday as investors showed hesitation in the wake of a strong rally last week and ahead of key earnings releases.

The S&P 500 posted its best week since July last week, boosted by results from such names as General Electric Co and Morgan Stanley. If the index ends higher, it will be the fifth straight daily rise for the benchmark, its longest winning streak since October.

Of the 87 companies in the S&P 500 that have reported results through Monday, about 62.1 percent have topped earnings expectations, according to Thomson Reuters data, compared with the 66 percent average over the past four quarters. On the revenue side, 51.7 percent have beaten forecasts, below the 54 percent average over the past four quarters.

S&P 500 companies' first-quarter earnings are projected to have increased 0.8 percent from a year ago, Thomson Reuters data showed. The forecast is down sharply from the start of the year, when profit growth was estimated at 6.5 percent.   Continuación...