Strong Earnings Lift US Stocks

Wall Street stocks bounced early Wednesday, recovering from the prior session's pullback following strong earnings from IBM, Procter & Gamble and others

New York, (UrduPoint / Pakistan Point News - 23rd Jan, 2019 ) :Wall Street stocks bounced early Wednesday, recovering from the prior session's pullback following strong earnings from IBM, Procter & Gamble and others.

About 10 minutes into trading, the Dow Jones Industrial Average was up 1.0 percent at 24,657.08.

The broad-based S&P 500 advanced 0.6 percent to 2,648.31, while the tech-rich Nasdaq Composite Index gained 0.7 percent to 7,067.79.

P&G surged 5.7 percent after lifting its full-year sales forecast following better-than-expected results, while fellow Dow member IBM jumped 8.1 percent after results topped expectations.

United Technologies, another Dow component, advanced 7.2 percent after results.

The gains came after major US indices dropped more than one percent on fresh doubts about US-China trade talks amid worries that a weeks-long stock market rally was losing steam.