Wall St rallies on strong earnings; Dow up 229 pts

In US Market, companies from citigroup to google to caterpillar posted results that topped analyst's estimates. US markets rallied on hopes that the worst is over for financials and surprisingly solid earnings posted by multinational companies in US.

Financials also Outperformed the market, up almost 10% for the week.

The Dow Jones closed at 12,849.36, up 1.81% or 228.87 points, the Nasdaq up 2.61% or 61.14 points to settle at 2,402.97. The S&P 500 went up 24.77 points at  1,390.33.

For the week the Dow Jones broke past its February high and rose 4.3% to close at 12,849. The Nasdaq soared 4.9% for the week, its biggest gain since august 2006 shut shop at 2402. The S&P 500 also gained 4.3% for the week ending at 1,390.

Crude prices climbed to record highs at the Nymex as better than expected earnings results signaled a strengthening Economy that may boost demand. Jitters over Nigerian oil supplies outweighed a rally in the dollar and fears of an economic slowdown in giant energy consumer, China. Prices rose 6% this week, the biggest weekly gain since February 2007. They are up 85% from a year ago.

look at how the Indian ADRs performed: