New York Report: USA equities swing higher

US stocks ended a volatile session higher yesterday, lifted by gains in such blue-chip names as Coca-Cola and Johnson & Johnson, though persistent weakness in momentum names limited the Nasdaq’s advance.

The three major US stock indexes fell for much of the session before rebounding in afternoon trading. The Nasdaq moved in a 108.77-point range, and at its lows of the day, it was within 0.3 per cent of 3,934.53, the level that represents a 10 per cent drop from its intraday peak on 6 March. It closed at 4,034.16.

After the closing bell, Intel shares rose three per cent after the chipmaker’s earnings were released. Yahoo shares rose 1.4 per cent after the bell after good results. The Dow Jones industrial average rose 89.32 points, or 0.55 per cent, to end at 16,262.56. The S&P 500 gained 12.37 points, or 0.68 per cent, to finish at 1,842.98.