U.S. 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 and growing demand for iPods and iPhones. American Express, the third-largest U.S. credit-card network, gained on results boosted by the spending of wealthy consumers. New York Times Co. posted its steepest gain in almost eight years and Burlington Northern Santa Fe Corp. rallied the most since Oct. 5 on earnings that topped analysts’ forecasts.
The Standard & Poor’s 500 Index added 13.26, or 0.9 percent, to 1,519.59. The Dow Jones Industrial Average gained 109.26, or 0.8 percent, to 13,676.23. The Nasdaq Composite Index increased 45.33, or 1.7 percent, to 2,799.26. [MORE]
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