Dow Jones and Nasdaq gain in US equities markets

In New York on Tuesday, the equities markets were up on the day as the Dow Jones Industrial Average gained 0.68 percent to 10,646.56, the Nasdaq composite was up 1.32 percent to 2,173.18, and the S&P 500 rose by 0.67 percent to 1,229.35.

Technology stocks rallied on IBM’s better-than-expected quarterly report. The results were helped by a restructuring, the sale of IBM’s troubled personal computer division, and sales of services and software.

By midday, shares in IBM had gained 2.9 percent to $84.17. Other technology stocks helped by IBM’s success included Intel, which was up 1.5 percent to $28.64.

Intel’s quarterly report is to be issued tomorrow. Additionally, Apple was up 2.5 percent to $42.51, Corning gained 4.5 percent to $18.29, and Gateway rose by 3.2 percent to $3.85.

All this activity helped send the S&P’s technology hardware and equipment index up 1.4 percent to 300.64. Forest products company International Paper gained 10.8 percent to $33.98 on the announcement of plans to spin off some businesses.

This result also pulled Georgia-Pacific up by 6.1 percent to $34.05. The worst performer on the S&P 500 was Avon Products. Despite a 41 percent gain in profits, with disappointing sales in China as well as in central and eastern Europe, shares in Avon fell 12.3 percent to $32.10.

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