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NEW YORK (AP) — Strong earnings from technology companies including Intel Corp. sent stocks soaring Wednesday. The Nasdaq composite index had its biggest one-day jump in six months.
The Nasdaq rose 57, or 2 percent, to 2,802 in early afternoon trading. The technology-focused index hasn't risen that much since Oct. 5.
The Dow Jones Industrial Average rose 200 points, or 1.6 percent, to 12,467.
Intel rose 6 percent, the most of the 30 companies in the Dow average, after the chip-maker reported that its income rose 29 percent in the first quarter because of rising demand for personal computers. The results easily beat analysts' expectations and allayed concerns that surging sales of tablet computers would hurt Intel's results.
The Standard & Poor's 500 index rose 19, or 1.5 percent, to 1,331.
Amphenol Corp. rose 6 percent, the most of any company in the S&P 500 index, after reporting that its earnings per share rose 31 percent. The company makes fiber optic connectors and electrical equipment.
Several other prominent companies also reported much stronger earnings. Freeport-McMoRan Copper & Gold Inc. jumped 4 percent after the mining company's income came in well ahead of analysts' expectations.
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