U.S. stocks rose, with the Nasdaq 100 Index rebounding from its biggest drop since April, as Apple Inc. and Yahoo! Inc. rallied while investors awaited a Federal Reserve decision on interest rates.
The Nasdaq 100 added 1.5 percent at 9:32 a.m. in New York, after a 1.2 percent drop Tuesday. The Standard & Poor™s 500 Index increased 0.6 percent to 2,041.93.
Disappointing results from Caterpillar Inc. and Microsoft Corp. weighed on U.S. equities Tuesday, sending the Dow Jones Industrial Average tumbling 1.7 percent.
While the dollar™s climb is reducing profits at U.S. companies from Procter & Gamble Co. to Pfizer Inc. and Microsoft, more than 77 percent of S&P 500 members have still beaten analysts™ estimates so far this earnings season, according to data compiled by Bloomberg.
Source : Bloomberg