Summary US stocks rallied in early trade Tuesday, recovering losses after Boston Marathon bomb attacks.
NEW YORK (AFP) - About 35 minutes into trade, the Dow Jones Industrial Average jumped 94.37 (0.65 percent) to 14,693.57.
The broad-based S&P 500 increased 11.29 (0.73 percent) to 1,563.65, while the tech-rich Nasdaq Composite Index rose 17.41 (0.54 percent) to 3,233.90.
The rally partially reversed Monday s losses, when explosions at the Boston Marathon rocked a market that had already been in the red after a commodity sell-off in the face of weak Chinese and US economic data.
Fresh March data showed that US housing starts jumped 7.0 percent from February and were up 46.7 percent from a year ago, while consumer prices fell 0.2 percent mainly due to a sharp drop in gasoline prices.
Solid earnings reports from Goldman Sachs, Coca-Cola and Johnson & Johnson also propelled stocks higher.
Goldman Sachs gave up 1.6 percent despite reporting slightly higher earnings than last year on strong investment banking results.
Dow member Coca-Cola surged 5.2 percent after reporting an 8 percent increase in profits thanks to rising sales in emerging markets like India, China and Brazil.
Health care and pharmaceutical company Johnson & Johnson, another Dow blue chip, gained 1.4 percent after reporting earnings that met expectations and slightly higher-than-expected revenues.
Retail giant Target dipped 0.9 percent after signaling that first-quarter earnings will be lower than expected "due to softer-than-expected sales trends particularly in seasonal and weather-sensitive categories across the store."
Mining equities, beaten down in recent days with the retreat in gold prices, regained some ground. Newmont Mining rose 1.7 percent, while Barrick Gold put on 1.1 percent.
Bond prices dropped. The yield on the 10-year Treasury rose to 1.72 percent from 1.70 percent late Monday, while the 30-year yield jumped to 2.91 percent from 2.88 percent. Bond prices move inversely to yields.
