NEW YORK – U.S. stocks rose at the open on Wednesday boosted by stronger-than-expected results from JPMorgan Chase and Intel, and after retail sales data provided fresh evidence of an economic recovery.
The benchmark S&P 500 stock index (.SPX) shot above the key 1,200 level for the first time since September 2008, lifting the index nearly 77 percent from a more than 12 year low in March 2009.
The Dow Jones industrial average (.DJI) gained 36.20 points, or 0.33 percent, to 11,055.62. The Standard & Poor's 500 Index rose 4.96 points, or 0.41 percent, to 1,202.26. The Nasdaq Composite Index (.IXIC) added 17.39 points, or 0.71 percent, to 2,483.38.