U.S. shares rebound amid rising optimism over corporate profits

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Source: Dukascopy Bank SA
U.S. equities advanced on rising optimism that the first-quarter profits would favor a rebound in the market after posting biggest decrease on week this year. The S&P 500 Index rallied 0.6% to 1,563.07. All but one group in the benchmark index edged higher. Advanced Micro Devices jumped 13.1% for the biggest surge in the S&P 500 on news Microsoft Corp. would use AMD chips in the company's next Xbox game console. Wpx Energy followed with a 5.3% rise to pace gains in the oil and gas sector that was 0.5% up. Consumer goods posted the biggest advance in the gauge, as Monster Beverage Corp. soared 4.7% as report showed the energy drink business has still room for growth. On the downside, Apollo Group, a provider of higher education programs for working adults, slumped 2.4% to close at $ 16.65, while Time Warner Cable lost 1.6% and triggered a 0.5% drop in telecommunications group.

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