Wall St advances; S&P, Nasdaq book fifth straight gain
Published on Apr 22, 2014 5:59 AM
NEW YORK (REUTERS) - United States (US) stocks advanced modestly on Monday in subdued trading as investors showed hesitation in the wake of a strong rally last week and before a slew of key earnings releases this week.
Monday's gain marked the S&P 500's fifth straight climb, its longest winning streak since October. The S&P 500 wrapped up its best week since July last week, boosted by results from such names as General Electric Co and Morgan Stanley.
The Nasdaq also scored its fifth straight gain on Monday.
Of the 87 companies in the S&P 500 that had reported results through Monday morning, 62.1 per cent have topped earnings expectations, according to Thomson Reuters data, compared with the 66 per cent average over the past four quarters. On the revenue side, 51.7 per cent have exceeded forecasts, below the 54 per cent average over the past four quarters.
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