Stocks Rise on Earnings From Apple, Amex
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
American stocks rose the most in two weeks after better-than-expected earnings from Apple Inc. and American Express Co. eased concern the housing slump has depressed consumer spending. Apple climbed the most since January after reporting record sales of Macintosh computers. American Express gained on higher charges by wealthy customers. Amazon.com Inc. rallied to an almost eight-year high before reporting profit that was lower than some investors anticipated. The shares fell 9.6% after the close of exchanges, dragging down index futures. The Standard & Poor’s 500 Index added 13.26, or 0.9%, to 1,519.59. The Dow Jones Industrial Average gained 109.26, or 0.8%, to 13,676.23.
