US STOCKS-Amazon puts Wall St on track for best day in a month

martes 10 de mayo de 2016 14:53 GYT
 

* Amazon hits record high, boosting S&P and Nasdaq

* Higher oil drives up energy shares

* Gap drops after sales fall for fifth straight quarter

* Indexes up: Dow 1.06 pct, S&P 1.06 pct, Nasdaq 1.03 pct (Updates with afternoon trade)

By Noel Randewich

May 10 (Reuters) - U.S. stocks rose across the board on Tuesday, with a rally in Amazon.com putting the S&P 500 on track for its best day in a about a month.

Buoyed by rises in oil and global stock markets, Wall Street's gains appeared to breathe new life into a two-month rally that petered out in mid-April, and it left the S&P 500 with an increase of nearly 2 percent for 2016.

Amazon jumped 3.2 percent to a record of $701.40, giving the biggest boost to the S&P and the Nasdaq. Bernstein raised its price target on the stock to $1,000, the highest on Wall Street, saying it believes Amazon's margins will expand much faster than currently expected.

All 10 major S&P sectors gained and six of them were up over 1 percent, led by a 1.64-percent rise in the industrials index and a 1.55-percent rise in the energy index. Oil rose 4 percent as supply disruptions in Canada and elsewhere overshadowed fears of oversupply.   Continuación...