Strong first-quarter earnings reports and another dip in the dollar led all three US indexes to soar in trading today, erasing losses endured earlier in the week. At close, the Dow Jones Industrial Average was up 186.79 points of 1.52 percent to its highest level since June 2008. The S&P 500 was also higher for the day, climbing 17.74 points or 1.35 percent. The Nasdaq, led by surging tech stocks added 57.54 points or 2.10 percent.
Stocks jumped higher from the sounding of the morning bell when Intel Corp. (NASDAQ:INTL) surged 6 percent in early trading on reports that first quarter earnings were up 29 percent. On the Dow, United Technologies Corp added $5.54, or 4.3 percent on positive quarterly reports and a revised annual forecast. Apple (NASDAQ: AAPL) also tacked on 1.35 percent.
Johnson & Johnson (NYSE: JNG) added 2.7 percent, adding onto what seems to be the beginning of a rally.
The dollar weakness added to international interest today, giving foreign investors more incentive to buy U.S. stocks. It also added to higher commodities and a return in oil prices to $111.45 a barrel.
Also up for the day, was TiVo,(NASDAQ: TIVO) adding close to 30 percent and off road vehicle engineer and manufacturers Polaris Industries Inc. (NYSE: PII), up20.95 percent.
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