US STOCKS-Wall St rallies on earnings, data; S&P down on week

viernes 17 de octubre de 2014 12:46 GYT
 

* GE climbs after quarterly results

* Housing starts rise in September

* Umich tops expectations

* Indexes up: Dow 1.91 pct, S&P 1.69 pct, Nasdaq 1.59 pct (Updates to early afternoon trading)

By Chuck Mikolajczak

NEW YORK, Oct 17 (Reuters) - U.S. stocks rose on Friday, with each of the major indexes up more than 1 percent, following a batch of solid earnings reports that offset concerns about the impact of weak global demand on U.S. growth and businesses.

Even with the strong advance on Friday, the benchmark S&P index was on track for its fourth straight weekly decline, its longest streak in more than three years, and is down nearly 6 percent from its record high amid worries over the health of the global economy and spread of the Ebola virus.

Investors eyeing corporate earnings for positive trading incentives were rewarded. General Electric shares rose 3.4 percent to $25.07 after the company reported third-quarter earnings that topped analyst expectations, pushing the S&P industrial sector up 1.8 percent.

Fellow industrial Honeywell shares gained 4.1 percent to $89.27 after its quarterly results, to help send the S&P industrials sector up 2.3 percent as the best performing S&P sector.   Continuación...