U.S. stocks surge as Dow Reaches Highest Level

U.S. Stocks rose sharply on Tuesday (04/26/2011) local time, amid a number of strong corporate earnings reports and as investors awaited the results of a two-day Federal Reserve meeting.

Dow Jones Industrial Average jumped 115.49 points (0.93 percent) to 12,595.37. Technology-heavy Nasdaq composite index rose 21.66 share points (0.77 percent) at 2847.54 and S & P 500 index, increased 11.99 points (0.90 percent) to 1347.24.

The Dow index of 30 blue-chip stocks and the S & P 500 closed at its highest level since June 2008. The Nasdaq closed down a few points from its peak in 2007. Past the peak it is the level last seen in 2001 because of the bubble (bubble) dot.com burst. "A set of earnings reports better than expected has brought buyers back into the fold (fold) after a listless session yesterday," Briefing.com analysts said in a client note.

Strong earnings from Ford, 3M and Dow member United Parcel Services (UPS) market trigger "bullish" (excited).

Ford, the second largest U.S. auto maker, recorded the highest profit in 13 years the first quarter amounted to 2.55 billion U.S. dollars. Revenue jumped 22 percent from a year ago backed the sale of fuel-efficient vehicle because it cope with higher commodity prices. Shares of Ford rose 0.8 percent to 15.66 U.S. dollars.

Manufacturing conglomerate 3M shares rose 1.9 percent to 95.94 dollars after record sales in the first quarter, with strong growth in Asia despite the impact of Japan's earthquake and tsunami.

UPS shares, rose 0.9 percent to 74.30 U.S. dollars, reported a 66 percent rise in first-quarter profit and raised its forecast for 2011.

Among stocks fall, Coca-Cola fell 1.2 percent to 66.93 dollars after reporting a profit that does not answer the expectations of the market.

Traders wait for conclusion of a two-day Federal Reserve meeting on Wednesday. Federal Open Market Committee (FOMC) is considering whether to stand on its own economic recovery with reduced stimulus banks. FOMC, after the meeting, is widely expected to announce that he would keep interest rates low to support the recovery and the second round of bond purchase 600 billion U.S. dollars, or quantitative easing, will end as planned in June.