Apr 17, 2013, 11.02 AM IST | Source: CNBC-TV18

US mkts bounce back smartly; Coca-Cola up 6% post earnings

US equity markets recovered from worst 1-day drop in 2013 on Tuesday while CBOE VIX fell by 19.1 percent to 13.96.

US equity markets recovered from worst 1-day drop in 2013 on Tuesday while CBOE VIX fell by 19.1 percent to 13.96.

The Dow Jones industrial average rose 157.58 points, or 1.08 percent, to close at 14,756.78. Meanwhile, the Standard & Poor's 500 Index went up 22.21 points, or 1.43 percent, to 1,574.57 and the Nasdaq Composite Index moved up 48.14 points, or 1.50 percent, to 3,264.63.

Johnson & Johnson jumped 2 percent after better-than-expected earnings in first quarter.

Coca-Cola shot up 5.7 percent after reporting higher-than-expected profit in the March quarter.

Goldman Sachs's Q1 profit rose by 7.2 percent to USD 2.26 billion.

US economic data

New home sales came in at highest level since 2008; March Housing Starts increased 7.0 percent to 1.04 million.

Consumer prices fell in March for the first time in 4 months; Consumer Price Index slipped 0.2 percent.

Meanwhile, industrial production grew 0.4 percent in March.

Commodity complex

Gold recovered from lows, rising towards USD 1400 an ounce before cooling down.

Watch out for US data:
-Mortgage applications
-Fed to release their Beige Book

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