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* Bank of America profit rises as costs fall
* Delta profit up, helped by cheap fuel
* Netflix to report after the bell
* Indexes up: Dow 0.49 pct, S&P 0.52 pct, Nasdaq 0.43 pct
By Tanya Agrawal
April 15 (Reuters) - U.S. stocks rose higher on Wednesday as earnings from major companies beat lowered expectations and investors’ worries about a poor quarterly season receded.
All 10 major S&P 500 indexes posted gains.
Intel, which reported results after the bell on Tuesday, was up 3.8 percent at $32.69. The chipmaker forecast revenue broadly in line with Wall Street’s expectations.
Delta Air Lines’ first-quarter profit topped analysts’ expectations as cheap fuel continued to help its bottom line. Its stock rose 3.3 percent to $44.53.
“The positive results from Intel and other companies have allowed the markets to breathe a sigh of relief since the reports haven’t been a complete disaster,” said Jeff Clark, a trading analyst at Stansberry Research in Baltimore.
Investors reacted a few weeks ago to expectations of poor earnings and that has kept the market sluggish, he said.
HCA Holdings’ shares were up 2.9 percent at $79.56 after the hospital operator said it expects first-quarter results above analysts’ expectations.
Bank of America‘s, shares were down 0.5 percent at $15.73. The No. 2 U.S. bank by assets first-quarter profit narrowly beating analysts’ estimates, as legal costs fell and the bank earned more from mortgage lending and investment and brokerage services.
On Tuesday, JPMorgan Chase and Wells Fargo reported better-than-expected results. Citigroup and Goldman Sachs are scheduled to post results on Thursday.
Concerns had been growing that this earnings season will be weak due to lower oil prices, a strong U.S. dollar, and poor weather in the eastern United States in recent months. First-quarter profits for S&P 500 companies are seen falling 2.9 percent, according to Thomson Reuters data.
Video streaming company Netflix Inc will report after the close of markets.
Data on Wednesday showed applications for U.S. home mortgages fell last week as interest rates edged up, while manufacturing activity growth in New York State unexpectedly contracted in April, weakening for a third straight month
The Dow Jones industrial average rose 89.05 points, or 0.49 percent, to 18,125.75, the S&P 500 gained 10.89 points, or 0.52 percent, to 2,106.73 and the Nasdaq Composite added 21.27 points, or 0.43 percent, to 4,998.55.
NYSE advancing issues outnumbered decliners 2,112 to 766, for a 2.76-to-1 ratio; on the Nasdaq, 1,692 issues rose and 811 fell, for a 2.09-to-1 ratio.
The S&P 500 posted 14 new 52-week highs and 1 new low; the Nasdaq Composite recorded 59 new highs and 8 new lows.
Editing by Chizu Nomiyama and Nick Zieminski