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New York - US stocks soared on Wednesday in a solid day-long rally fueled by earnings reports that beat Wall Street expectations and positive news on the ailing housing market.
After leaving the starting gate with a triple-digit bang, the Dow Jones Industrial Average ended 187.70 points (1.53 percent) higher at 12 454.45 in closing trade.
The Nasdaq Composite leaped 57.43 points (2.09 percent) to 2,802.40.
"The bulls are getting their sustenance from a plethora of better-than-expected earnings reports," Charles Schwab analysts said in a client note.
Solid earnings from Dow blue chips Intel, IBM and United Technologies, and from Internet giant Yahoo!, helped to ignite buying in the Easter holiday-shortened week. The markets will be closed Friday.
The S&P 500 index, a broader measure of the markets, advanced 17.76 points (1.35 percent) to 1330.38.
After leaving the starting gate with a triple-digit bang, the Dow Jones Industrial Average ended 187.70 points (1.53 percent) higher at 12 454.45 in closing trade.
The Nasdaq Composite leaped 57.43 points (2.09 percent) to 2,802.40.
"The bulls are getting their sustenance from a plethora of better-than-expected earnings reports," Charles Schwab analysts said in a client note.
Solid earnings from Dow blue chips Intel, IBM and United Technologies, and from Internet giant Yahoo!, helped to ignite buying in the Easter holiday-shortened week. The markets will be closed Friday.
The S&P 500 index, a broader measure of the markets, advanced 17.76 points (1.35 percent) to 1330.38.
