US STOCKS-Wall St advances; S&P, Nasdaq book fifth straight gain

Mon Apr 21, 2014 4:55pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* S&P 500's advance follows biggest weekly gain since July

* Earnings seen driving trading; dozens of names report this week

* Netflix climbs in extended-hours trading after results

* Dow up 0.3 pct; S&P 500 up 0.4 pct; Nasdaq up 0.6 pct (Updates to close, adds Netflix earnings)

By Chuck Mikolajczak

NEW YORK, April 21 (Reuters) - U.S. stocks advanced modestly on Monday in subdued trading as investors showed hesitation in the wake of a strong rally last week and before a slew of key earnings releases this week.

Monday's gain marked the S&P 500's fifth straight climb, its longest winning streak since October. The S&P 500 wrapped up its best week since July last week, boosted by results from such names as General Electric Co and Morgan Stanley.

The Nasdaq also scored its fifth straight gain on Monday.

Of the 87 companies in the S&P 500 that had reported results through Monday morning, 62.1 percent have topped earnings expectations, according to Thomson Reuters data, compared with the 66 percent average over the past four quarters. On the revenue side, 51.7 percent have exceeded forecasts, below the 54 percent average over the past four quarters.   Continued...