US STOCKS-Wall St rebounds from 2-day drop; Fed minutes ahead

miércoles 9 de julio de 2014 13:19 GYT
 

* S&P 500's 14-day moving average watched as support

* Alcoa earnings top expectations; stock jumps

* Airlines' shares rally after American's revenue comment

* Dow up 0.3 pct, S&P 500 up 0.3 pct; Nasdaq up 0.5 pct (Updates to midday)

By Angela Moon

NEW YORK, July 9 (Reuters) - U.S. stocks rose on Wednesday, rebounding from a sharp two-day slide after an early reading on earnings beat expectations.

Alcoa Inc was one of the S&P 500's biggest advancers, up 5.7 percent to $15.70 a day after the U.S. aluminum producer reported adjusted second-quarter earnings and revenue that topped Wall Street's forecasts.

While the former Dow component is no longer considered a market-moving industry bellwether, Alcoa is sometimes viewed as setting the tone for the season because it is one of the first high-profile names to report earnings.

Wells Fargo & Co, the largest U.S. mortgage lender, will report results on Friday. The earnings reports of dozens of closely watched companies, including Dow components, will be released next week.   Continuación...