Wall Street jumps on strong results; IBM, Intel off late
Published on Oct 17, 2012 8:53 AM
NEW YORK (REUTERS) - United States (US) stocks rallied on Tuesday, giving the S&P 500 its best two-day advance in a month as strong earnings from Johnson & Johnson and other bellwether companies raised hopes for the rest of the US reporting season.
Diversified US healthcare company Johnson & Johnson also increased its full-year profit outlook.
Its stock rose 1.4 per cent to US$69.55, helping the Dow Jones industrial average register its best day since Sept 13, when the Federal Reserve unveiled its third round of stimulus, or quantitative easing, known as "QE3".
Goldman Sachs earnings also beat expectations, its revenue more than doubled and it raised its quarterly dividend.
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