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US STOCKS-Goldman Sachs, JNJ earnings boost Wall St

Published 04/19/2011, 09:45 AM
Updated 04/19/2011, 09:48 AM
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* Goldman Sachs, Johnson & Johnson lift stocks

* Indexes up: Dow 0.4 pct, S&P 0.3 pct, Nasdaq 0.4 pct

* For up-to-the-minute market news see [STXNEWS/US] (Updates to open)

By Chuck Mikolajczak

NEW YORK, April 19 (Reuters) - U.S. stocks advanced on Tuesday, led higher after Goldman Sachs and Johnson & Johnson reported solid earnings.

Goldman Sachs Group Inc , the largest U.S. investment bank, rose 1.1 percent to $155.50 after posting stronger-than-expected quarterly profit, earning more money from bond trading than analysts had forecast. For details, see [ID:nN19275568]

Healthcare company Johnson & Johnson , up 3 percent to $62.30, was the top boost to the Dow after reporting stronger-than-expected sales and earnings, helped by the weaker dollar and higher sales of prescription drugs. [ID:nN19273113]

"It is kind of nice to see a couple of big headline companies come in with positive surprises after a string of headline companies delivering negative surprises over the last week," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon.

"Investors really are going to be focusing on earnings and trying to get a read on guidance -- guidance is going to be the name of the game right now."

The Dow Jones industrial average <.DJI> gained 45.26 points, or 0.37 percent, to 12,246.85. The Standard & Poor's 500 Index <.SPX> rose 4.41 points, or 0.34 percent, to 1,309.55. The Nasdaq Composite Index <.IXIC> climbed 9.73 points, or 0.36 percent, to 2,745.11.

Companies also scheduled to report quarterly results later on Tuesday include Intel Corp , International Business Machines Corp , Yahoo Inc and CSX Corp . (Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)

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