U.S. Stocks Advance on Johnson & Johnson, Coca-Cola Results

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U.S. stocks rose, after equities rebounded from their worst week since 2012, as earnings from Johnson & Johnson and Coca-Cola Co. offset data showing a decline in a gauge of New York-area manufacturing.

Coca-Cola gained 2.8 percent as global volume sales increased. Johnson & Johnson climbed 1.3 percent as the company raised its forecast for the year.

The Standard & Poor™s 500 Index rose 0.1 percent to 1,833 at 9:30 a.m. in New York. The equity gauge has dropped 3.1 percent from its April 2 record amid concern valuations may be too high as the earnings season begins.

Nine S&P 500 members are reporting earnings today. Yahoo! Inc. and Intel Corp. will release results after the close of U.S. trading. Profit at S&P 500 companies probably fell 0.9 percent in the first quarter, analysts predict. At the beginning of the year, they had projected a 6.6 percent increase. Sales increased 2.6 percent in the first quarter, the estimates show.

Copy Source : Bloomberg