US STOCKS-Wall St extends bounce-back; S&P above key levels

martes 21 de octubre de 2014 14:12 GYT
 

* Apple rallies, lifting S&P 500 and Nasdaq

* S&P 500 back above 14-day moving average

* Indexes up: Dow 1.14 pct, S&P 1.67 pct, Nasdaq 2.02 pct

By Yasmeen Abutaleb

NEW YORK, Oct 21 (Reuters) - U.S. stocks rallied on Tuesday, with the S&P 500 on track for a fourth straight session of gains boosted by strong corporate results, including Apple's.

The S&P 500 and Dow Jones were up more than 1 percent while the Nasdaq rose more than 2 percent, boosted by better-than-expected results from several major tech companies.

The S&P 500 has gained more than 6 percent from its session low last Wednesday, when the benchmark was down nearly 10 percent from its intraday record. The index is on track to close above its 14-day moving average for the first time since Sept. 24 and was also trading above its 200-day average.

At 1:55 p.m., the Dow Jones industrial average rose 187.14 points, or 1.14 percent, to 16,586.81, the S&P 500 gained 31.81 points, or 1.67 percent, to 1,935.82 and the Nasdaq Composite added 87.12 points, or 2.02 percent, to 4,403.19.

Apple Inc rose 2.5 percent to $102.28 a day after revenue topped expectations, helped by strong iPhone sales. It also gave a strong outlook for the holiday quarter.   Continuación...