Stocks Gain, S&P Ends Near 1500

U.S. stocks finished higher for the fourth-consecutive session on Wednesday, with the S&P 500 within striking distance of the 1,500 level, lifted by a batch of stronger-than-expected earnings. The Dow Jones industrial average rose 67.12 points or 0.49 percent, to 13,779.33, the S&P 500 gained 2.25 points or 0.15 percent, to 1,494.81, and the Nasdaq Composite added 10.49 points or 0.33 percent, to 3,153.67.

Video subscription service Netflix Inc reported a quarterly profit as the company added subscribers in the United States and abroad. The company reported on Wednesday $8 million in net income from October through December, or 13 cents per share. Revenue rose to $945 million.

Apple Inc reported quarterly revenue that slightly missed Wall Street expectations as sales of its flagship iPhone came in below analyst targets. Apple said its fiscal first quarter revenue rose to $54.5 billion, below the average analyst estimate of $54.73 billion.

The International Monetary Fund is projecting a modest rise in global economic growth for 2013, but also warning that problems in the eurozone and the United States could derail momentum.






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