Stocks rise on strong earnings from Nike; investors jump into market after earlier declines

3/22/2013

NEW YORK — U.S. stock markets closed higher on Wall Street today, bolstered by strong earnings from companies like Nike.

The Dow Jones industrial average was up 90 points, or 0.6 percent, to 14,512 at the close of trading.

The Standard & Poor's 500 Index rose 11 points, or 0.7 percent, to 1,556. The Nasdaq rose 22 points, or 0.7 percent, 3,245.

Nike reported a surge in quarterly profit, and its stock was the top gainer in the S&P 500. Tiffany topped earnings predictions, boosted by demand from customers in Asia.

Advancing stocks led declining stocks on the New York Stock Exchange, with advancers totaling 1,859 and decliners at 1,090.