U.S. stocks rose sharply on Tuesday as gold rebounded from its worst slump in decades and profits of Coca-Cola Co. and Goldman Sachs Group Inc. beat expectations.
Tuesday's economic data was also encouraging: the construction of new homes in the United States reached its highest rate in nearly five years in March, exceeding forecasts. The consumer price index, meanwhile, showed that inflationary pressures remained moderate
"Earnings and the report of the housing were the main drivers to change things today," said Andrew Fitzpatrick, director of investments at Hinsdale Associates Inc. in Hinsdale, Illinois at 4 pm ET,
The Dow Jones Industrial Average Dow Jones up to 1.08% 157.12 14,756.32 points. The S & P 500 1.43% SPX added 22.19 points to 1574.56. The Nasdaq Composite COMP +1.50% rose 48.14 points to 3263.62.
For every action that falls almost five obtained in the New York Stock Exchange, where 743 million shares traded. Composite volume exceeded 3.6 billion.
Bond prices slipped, with the yield on the benchmark 10-year note 2.43% 10_YEAR used in determining mortgages and other consumer loans rise to 1.72%.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery rose $ 26.30 GCM3 +0.42% to close at $ 1387.40 an ounce, recovering a small piece of what was lost after his fall more pronounced since 1983. Oil prices gained slightly CLK3 +0.03% after a fall of three sessions, beating up 1 cent to $ 88.72 a barrel.
Economic Reports Tuesday had U.S. housing begins to rise 7% in March, paced the apartment building capacity, while consumer inflation fell 0.2% last month and industrial output increased 0.4%.
The housing report boosted optimism entrepreneurship related GWW WW Grainger Inc. 7.17% to 7.2% and 4.20% PHM PulteGroup Inc. to 4.2%.
Part of Dell Inc. Dell 0.00% remained stable after the personal computer maker, said a special committee of its board had reached an agreement with billionaire investor Carl Icahn to limit their ownership as bids from Dell evaluates signing Icahn and a group led by CEO Michael Dell and acquisition specialist Blackstone group.
Goldman Sachs GS shares erased early gains -1.61% to end 1.6% after the investment bank reported first quarter results that beat Wall Street expectations, but the trade income and disappointed and President CEO Lloyd Blankfein took a cautious tone.
Shares of Coca-Cola Co. KO 5.69% rose 5.7% after the beverage maker reported first quarter results that beat expectations, while Target Corp. TGT -0.15% retailer warned profits for the first quarter would be well below expectations, taking a toll on shares of Target.
The fact that Coca-Cola beat estimates a day after similar results from Citigroup Inc. 0.15% C "conveys the overall picture is not as bad as you may be thinking," Fitzpatrick said Hinsdale Associates.
BlackRock Inc. BLK 1.32%, the largest U.S. supplier exchange traded funds, exceeded Wall Street estimates with a 10% increase in first quarter earnings. U.S. USB Bancorp -1.77% matched earnings expectations, while revenues experienced an unexpected drop.
For every action that falls almost five obtained in the New York Stock Exchange, where 743 million shares traded. Composite volume exceeded 3.6 billion.
Bond prices slipped, with the yield on the benchmark 10-year note 2.43% 10_YEAR used in determining mortgages and other consumer loans rise to 1.72%.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery rose $ 26.30 GCM3 +0.42% to close at $ 1387.40 an ounce, recovering a small piece of what was lost after his fall more pronounced since 1983. Oil prices gained slightly CLK3 +0.03% after a fall of three sessions, beating up 1 cent to $ 88.72 a barrel.
Economic Reports Tuesday had U.S. housing begins to rise 7% in March, paced the apartment building capacity, while consumer inflation fell 0.2% last month and industrial output increased 0.4%.
The housing report boosted optimism entrepreneurship related GWW WW Grainger Inc. 7.17% to 7.2% and 4.20% PHM PulteGroup Inc. to 4.2%.
Part of Dell Inc. Dell 0.00% remained stable after the personal computer maker, said a special committee of its board had reached an agreement with billionaire investor Carl Icahn to limit their ownership as bids from Dell evaluates signing Icahn and a group led by CEO Michael Dell and acquisition specialist Blackstone group.
Goldman Sachs GS shares erased early gains -1.61% to end 1.6% after the investment bank reported first quarter results that beat Wall Street expectations, but the trade income and disappointed and President CEO Lloyd Blankfein took a cautious tone.
Shares of Coca-Cola Co. KO 5.69% rose 5.7% after the beverage maker reported first quarter results that beat expectations, while Target Corp. TGT -0.15% retailer warned profits for the first quarter would be well below expectations, taking a toll on shares of Target.
The fact that Coca-Cola beat estimates a day after similar results from Citigroup Inc. 0.15% C "conveys the overall picture is not as bad as you may be thinking," Fitzpatrick said Hinsdale Associates.
BlackRock Inc. BLK 1.32%, the largest U.S. supplier exchange traded funds, exceeded Wall Street estimates with a 10% increase in first quarter earnings. U.S. USB Bancorp -1.77% matched earnings expectations, while revenues experienced an unexpected drop.
Johnson & Johnson 2.12% gained 2.1% after the maker of drugs and medical devices reported first-quarter revenue that beat expectations.
"Fundamentally we feel good earnings coming through, [and] looks set to be the same as the last few quarters", with approximately 60% above expectations, the coincidence of 20% and 20% being short said Chip Cobb, senior portfolio manager at BMT asset Management in Bryn Mawr Trust Co. in Bryn Mawr, Pennsylvania
"We hope and pray that Boston is a singular event, and that's all that will be," said Cobb, Monday pumps in the Boston Marathon that killed three people and wounded another 176, with 17 still in critical condition
"Fundamentally we feel good earnings coming through, [and] looks set to be the same as the last few quarters", with approximately 60% above expectations, the coincidence of 20% and 20% being short said Chip Cobb, senior portfolio manager at BMT asset Management in Bryn Mawr Trust Co. in Bryn Mawr, Pennsylvania
"We hope and pray that Boston is a singular event, and that's all that will be," said Cobb, Monday pumps in the Boston Marathon that killed three people and wounded another 176, with 17 still in critical condition
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