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Stocks gain on earnings; fake tweet rattles market

6:20 AM, Apr 24, 2013   |    comments
A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
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NEW YORK (AP) - Strong earnings reports continue to propel the stock market higher.

Companies that do the best when the economy is improving led the way. Coach, a maker of luxury handbags, and Netflix, which streams TV shows and movies over the Internet, were winners after announcing profits that impressed investors. Financial stocks rose after Travelers' earnings beat the expectations of financial analysts who follow the company.

Stocks closed higher even after financial markets were shaken in the early afternoon when a fake tweet on The Associated Press Twitter account prompted a sudden sell-off.

The Dow ended the days with a 152 point gain, closing at 14,719. The S&P 500 index rose 16 points to 1,578 and the Nasdaq added 35 points to 3,269.

The gains were broad. Four stocks rose for every one that fell on the New York Stock Exchange.

 

 

 

 

 

Associated Press

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