US stocks rallied for a fourth day yesterday after JPMorgan’s strong results fed growing optimism about the quarterly earnings season and technology shares rose in anticipation of more good news.<br /><br />Gains in <strong>International Business Machines</strong> helped the market shake off its earlier malaise. The broad S&P 500 extended the week’s gains to tally its best four days since March as stocks recovered from 12-year lows.<br /><br /><strong>IBM</strong> provided the Dow’s biggest boost ahead of earnings that beat expectations after the market closed. The bellwether also raised its outlook for the full year, sending its shares up 1.6 percent to $112.41 in extended trade. IBM closed the regular session up 3.2 per cent at $110.64.<br /><br />“As the market rallies, implicit in that is the expectation that we’ll continue to see a recovery in corporate profits,” said Dean Curnutt, president of Macro Risk Advisors in New York.<br /><br /><strong>JPMorgan Chase</strong> continued the week’s streak of positive results, posting a strong quarterly profit, but warning of deteriorating consumer credit. The bank’s stock was kept under water for most of the day, edging down 0.4 per cent to $36.13 on the New York Stock Exchange.<br /><br />Much better than expected results from <strong>Goldman Sachs</strong> and <strong>Intel</strong> set the tone early in the week amid expectations of a dire second quarter marked by falling revenues and cost cuts.<br /><br />The Dow Jones industrial average rose 95.61 points, or 1.11 per cent, to 8,711.82.<br /><br />The Standard & Poor’s 500 index gained 8.06 points, or 0.86 per cent, to finish at 940.74, and has climbed 7 per cent for the week so far. The Nasdaq Composite index advanced 22.13 points, or 1.19 per cent, to 1,885.03. Results from Web search leader <strong>Google</strong> also came in better than expected after the bell, but the stock was off 2.4 per cent at $432.19 in extended trade. During the regular session, Google had recovered from earlier losses to gain 1 per cent and close at $442.60 on Nasdaq.<br /><br />Comments from leading economist Nouriel Roubini further boosted sentiment after he said the worst is past in terms of economic and financial conditions.