Earnings Propel Stocks to Biggest Jump in Month
The stock market is closing with its biggest gain in a month following strong earnings from Mattel, Johnson & Johnson and other big companies.
The Dow Jones industrial average climbed nearly 128 points to 13,552 points Tuesday, its best gain since Sept. 13.
The Standard & Poor’s 500 index rose nearly 15 points to end at 1,455 and the Nasdaq composite rose 37 points to close at 3,101.
Mattel jumped 5 percent after reporting that brisk sales of American Girl dolls and Fisher-Price toys sent the company’s profit well above analysts’ forecasts.
Johnson & Johnson rose 1 percent after revenues came in ahead of estimates.
Three stocks rose for every one that fell on the New York Stock Exchange. Volume was slightly higher than average at 3.5 billion shares.
(Copyright 2012 by The Associated Press. All Rights Reserved.)