Stocks gain on higher profits, consumer confidence

AP News
Posted: Oct 28, 2014 4:11 PM
Stocks gain on higher profits, consumer confidence

NEW YORK (AP) — Earnings gains and higher consumer confidence numbers sent U.S. stock indexes higher.

The Standard & Poor's 500 index rose 23 points, or 1.2 percent, to 1,985 Tuesday.

The Dow Jones industrial average gained 187 points, or 1.1 percent, to 17,005. The Nasdaq composite rose 78 points, or 1.8 percent, to 4,564.

Amgen rose 6 percent after its earnings beat forecasts. Twitter dropped 10 percent as investors worried about user growth and revenue.

Investors are watching quarterly results roll in this week from a large group of companies. They are also waiting for Wednesday's policy announcement from the Federal Reserve, which is expected to wind down its bond-buying program.

Crude oil rose 42 cents to close at $81.42 a barrel.

The yield on the 10-year Treasury note rose to 2.29 percent.