US STOCKS-Amazon delivers S&P 500 its best day in two months

martes 10 de mayo de 2016 16:24 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 end up: Dow 1.26 pct, S&P 1.25 pct, Nasdaq 1.26 pct (Updates to close)

By Noel Randewich

May 10 (Reuters) - U.S. stocks rose across the board on Tuesday, with a jump in oil and a rally in Amazon.com helping propel the S&P 500 to its best day in two months.

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

Amazon jumped 3.43 percent to a record of $703.07, giving the biggest boost to the S&P 500 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 seven of them were up over 1 percent, led by a 1.75 percent rise in the energy index . Oil rose over 4 percent as supply disruptions in Canada and elsewhere overshadowed fears of oversupply.   Continuación...