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GLOBAL MARKETS-Stocks up on Goldman, Coke earnings; Brent oil down
April 17, 2012 / 2:15 PM / 6 years ago

GLOBAL MARKETS-Stocks up on Goldman, Coke earnings; Brent oil down

* U.S. stocks surge as Goldman, Coke results top expectations

* Spanish auction well-received though costs leap

* Dollar weakened by US housing starts; oil hurt by soft demand

By Barani Krishnan

NEW YORK, April 17 (Reuters) - Stock markets across the world rose on Tuesday, encouraged by a slew of stronger-than-expected U.S. company earnings and a smooth Spanish bond sale and German economic data.

U.S. Treasuries rose too on the better-than-expected bid for Spain’s short-term debt auction. But the dollar pared early gains against the yen after a steeper-than-expected drop in U.S. housing starts for March and benchmark Brent oil prices in London fell on limited physical demand for crude from refinery maintenance work in the United States.

Shares on Wall Street snapped a two-day decline as first quarter results from closely-followed investment bank Goldman Sachs and beverage giant Coca-Co topped expectations.

Some half hour after the open, the Dow Jones industrial average was up 98.62 points, or 0.76 percent, at 13,020.03. The Standard & Poor’s 500 Index was up 9.24 points, or 0.67 percent, at 1,378.81. The Nasdaq Composite Index was up 28.31 points, or 0.95 percent, at 3,016.71.

The benchmark 10-year U.S. Treasury note was down 5/32, with the yield at 1.9981 percent.

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