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

martes 21 de octubre de 2014 15:04 GYT

* Apple rallies, lifting S&P 500 and Nasdaq

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

* Indexes up: Dow 1.08 pct, S&P 1.69 pct, Nasdaq 2.14 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 2:55 p.m. the Dow Jones industrial average rose 177.09 points, or 1.08 percent, to 16,576.76, the S&P 500 gained 32.17 points, or 1.69 percent, to 1,936.18 and the Nasdaq Composite added 92.33 points, or 2.14 percent, to 4,408.41.

Apple Inc rose 2.6 percent to $102.39 a day after revenue topped expectations, helped by strong iPhone sales. It also gave a strong outlook for the holiday quarter.   Continuación...