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Stocks rise following minutes from Fed meeting and an encouraging start to corporate earnings

NEW YORK, N.Y. - The stock market is sharply higher as investors got some encouraging news about interest rates and as U.S. corporate earnings got off to a good start.

Alcoa led a rally in companies that make basic materials. The aluminum maker rose 4 per cent after its earnings came in better than investors expected.

Minutes from the Federal Reserve's latest policy meeting reassured investors that the central bank won't move quickly to increase interest rates.

Technology stocks bounced back after taking a beating over the past week. Facebook surged 7 per cent.

The Standard & Poor's 500 index rose 20 points, or 1.1 per cent, to close at 1,872.

The Dow Jones industrial average rose 181 points, or 1.1 per cent, to 16,437. The Nasdaq composite rose 70 points, or 1.7 per cent, to 4,183.

The Canadian Press


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S&P TSX14960.51-16.41
S&P CDNX909.29-3.47
DJIA17042.90-28.32
Nasdaq4493.39-12.462
S&P 5001972.29-5.51
CDN Dollar0.8918-0.0012
Gold1206.50-5.10
Oil89.95+0.19
Lumber333.20+0.30
Natural Gas4.124+0.003

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.26+0.03
Cantex0.065-0.025
Anavex Life Sciences0.184-0.001
Metalex Ventures0.0550.00
Russel Metals34.57+0.08
Copper Mountain Mining2.42-0.10
Colorado Resources0.165+0.015
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.32-0.02

 



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