Wall Street advanced on Tuesday to give the S&P 500 its best day this month on the heels of solid earnings reports from names such as UnitedHealth and Netflix that put corporate profits on track to snap a four-quarter streak of declines.
Of the 52 S&P 500 companies that have reported results to date for the third quarter, 81 percent have reported earnings that topped average analyst estimates, according to Thomson Reuters I/B/E/S.
Third-quarter earnings are now expected to show growth of 0.2 percent, which would mark an end to the U.S. profit recession that began in the third quarter of 2015.
The Dow Jones industrial average .DJI rose 75.54 points, or 0.42 percent, to 18,161.94, the S&P 500 .SPX gained 13.1 points, or 0.62 percent, to 2,139.6 and the Nasdaq Composite .IXIC added 44.01 points, or 0.85 percent, to 5,243.84.
Asian shares inched ahead on Wednesday after Wall Street got a lift from encouraging corporate earnings and investors wagered a coming barrage of Chinese data would confirm the economy had at least stabilized.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.2 percent, on top of a jump of 1.4 percent on Tuesday.
Reference : Reuters
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