Wall Street rallies, S&P up 754 points

Wall Street rallies, S&P up 754 points

NEW YORK, New York -- U.S. stocks went ahead on Tuesday, racking up solid gains for each of the main indices. The positive mood was also felt in Europe and the UK.

Paul Kim, CEO of Simplify Asset Management in New York, told Reuters Tuesday that earnings have come in better than lowered expectations.

We're not seeing the effects of tighter monetary policy and inflation on revenue as much as we feared. Technology stocks led the charge, with the Nasdaq Composite rising 353.10 points or 3.11 percent to 11,713. 15.

The Dow Jones industrial average went up 754.44 points or 2.43 percent to 31,827. 05.

The Standard and Poor's 500 accelerated 105.84 points or 2.76 percent to 3,136. 69.

The U.S. dollar was sold sharply. It was the third consecutive sell-off in the dollar in 3 days. The euro made a strong run-up to end Tuesday at 1.0229. The British pound went up to 1.2003. The Swiss franc was strengthened to 0.9687.

The Canadian dollar was sharply higher at 1.2872. The Australian dollar swelled to 0.6901. The New Zealand dollar rose to 0.6228.

The Japanese yen was a bit weaker at 138.18.

The German Dax, which gained 2.69 percent, was the big mover on overseas equity markets. The Paris-based CAC 40 was up 1.78 percent. The FTSE 100 in London increased by 1.01 percent.

In Tokyo, the Nikkei 225 advanced 173.21 points or 0.65 percent to 26,961. 68.

The Shanghai Composite was flat, ending at 3,279. It was 1.33 points or 0.04 percent higher in China. 43.

In New Zealand, the S&P NXX 50 fell by 0.90 of a point or 0.01 percent to 11,162. 73.

South Korea's Kospi Composite was down 4.28 points or 0.18 percent to 2,370. 97.

The Australian All Ordinaries fell by 35.00 points or 0.51 percent to 6,853. 00.

In Hong Kong, the Hang Seng lost 185.12 points or 0.89 percent to 20,661. 06.