NEW YORK ( TheStreet) -- The major U.S. equity averages soared Tuesday, buoyed by a batch of strong big-cap earnings reports and data showing a rebound in industrial production last month. Among the companies delivering better than expected results were Dow components Coca-Cola ( KO and Johnson & Johnson ( JNJ, along with Wall Street heavyweight Goldman Sachs ( GS. The Dow Jones Industrial Average finished up more than 127 points, or 0.95%, at 13,552. After losing 2%-plus last week, the blue-chip index now has put together a three-day winning streak, reclaiming nearly all of that ground in the process. Breadth was overwhelmingly positive within the Dow with winners ahead of losers, 23 to 6 with General Electric ( GE closing flat. The biggest percentage gainers were American Express ( AXP, Boeing ( BA, Caterpillar ( CAT, Intel ( INTC and United Technologies ( UTX. Blue-chip losers included Coca Cola ( KO, UnitedHealth ( UNH, Verizon ( VZ, and Wal-Mart Stores ( WMT. UnitedHealth, which recently took the place of Kraft Foods in the Dow, reported quarterly earnings of $1.50 a share on revenue of $27.3 billion. The health care company's earnings beat analysts' expectations of $1.31 a share. Coca-Cola reported third-quarter net income rose 4% to $2.31 billion, or 50 cents a share. Revenue was $12.34 billion vs. $12.25 a year earlier. "We're continuing to watch the earnings reports come out; we know that the global economy has slowed over the course of the third quarter, and investors are trying to determine how much negative impact we had on corporate earnings," said Alan Gayle, senior investment strategist at RidgeWorth Investments. After the bell, both Intel and IBM ( IBM reported their quarterly results. Intel shares were sliding after the company gave an uninspiring outlook for the fourth quarter, while IBM's stock was weighed down a revenue miss. The S&P 500 advanced nearly 15 points, or 1.03%, to close at 1455, while the Nasdaq surged close to 37 points, or 1.21%, to settle at 3101. The strongest sectors in the broad market, which was entirely in the green, were basic materials, energy and technology. Apple ( AAPL shares gained 2.4% on heavy volume as news the company has sent out invitations for a media event on Oct. 23 has spurred speculation of an imminent launch for the iPad Mini. Winners were ahead of losers by a nearly 3-to-1 ratio on the New York Stock Exchange and 2-to-1 on the Nasdaq. Volume totaled 3.55 billion on the Big Board and 1.74 billion on the Nasdaq. The U.S. economic data was generally good on Tuesday. Industrial production rose 0.4% in September, a tad higher than the consensus view for a 0.3% increase and a strong rebound from a decline 1.3% in August.
Inflation continued to be fairly benign. The U.S. consumer price index jumped 0.6% in September, mainly because of higher gasoline prices. Excluding food and energy, CPI climbed 0.1%, the same as August. The FTSE 100 in London closed up 1.1%, while the DAX in Germany gained 1.6%. Japan's Nikkei average rose 1.4% overnight to close at 8,701. Hong Kong's Hang Seng rose 0.28%. A senior official within the Spanish ministry of economy told the Financial Times the country would consider a request for a credit line in order to fulfill conditions of the European Central Bank to start a fresh round of bond purchases. September consumer prices rose 0.4% in the United Kingdom, while raw material and fuel costs fell 0.2% in September against a 1.9% rise in August. Gold for December delivery bounced back after Monday's steep decline, rising $8.70 to settle at $1,746.30 an ounce, while November light sweet crude oil rose 24 cents to close at $92.09 a barrel. The benchmark 10-year Treasury dove 18/32, lifting the yield to 1.723%. The greenback lost 0.74%, according to the
U.S. dollar index. In other corporate news, Citigroup ( C CEO Vikram Pandit abruptly resigned from both his post and the board. Michael Corbat was named to succeed him in the CEO post. Pandit had held the position since December 2007. Pandit's departure, coming a day after the company's third-quarter report, was a surprise, and the stock added 1.6%. Shares of Mattel ( MAT rose 5% after the toy maker reported a profit of $365.9 million, or $1.04 a share, ahead of the consensus view for earnings of 99 cents a share. PNC Financial Services Group ( PNC reported a third-quarter profit of $924 million, or $1.64 a share, while revenue rose 15%. The stock fell 4%. --Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux