US STOCKS-Wall Street jumps 1 pct in broad rally on results

jueves 23 de octubre de 2014 11:12 GYT
 

* Industrial shares rally on 3M, Caterpillar results

* AT&T falls on weak revenue, pressuring telecom stocks

* Jobless claims rise in latest week, as expected

* Indexes up: Dow 1.6 pct, S&P 1.4 pct, Nasdaq 1.7 pct

By Ryan Vlastelica

NEW YORK, Oct 23 (Reuters) - U.S. stocks surged on Thursday, with major indexes up more than 1 percent in a broad rally as strong results, including from two Dow components, reassured investors that corporations continue to fare well despite concerns about global economic growth.

The advance continued a recent bout of strength for equities. The S&P 500 has posted a gain of 0.9 percent or more in four of the past five sessions, taking it within 2.8 percent of its record close. After a four-week string of declines, the S&P is up 3.6 percent this week, putting it on track for its biggest weekly advance since January 2013.

The CBOE Volatility index was down 10.5 percent at 15.98. The "fear index" is off 27 percent this week, on track for its biggest weekly decline since January 2013.

Shares of both Caterpillar Inc and 3M Co rose following their results. Caterpillar, which also raised its full-year profit view, was up 5.2 percent at $99.52 while 3M added 6 percent to $147.34. The S&P industrial sector rose 2.2 percent as one of the biggest advancing sectors on the day.   Continuación...