S&P 500 index rallied on Wednesday as investors incorporated into prices the late Tuesday's news from Apple Inc whose profit surged 94% in the first quarter. US benchmark index jumped 1.36% or 18.72 points to 1,390.69. Apple rocketed 8.9% to USD 610 a share. The firm sold 35 million iPhone in the first three months of 2012. Lorillard dropped 4% after the cigarette manufacturer posted a 10% fall in revenue for the 1st quarter. Harley-Davidson surged 6.2% as company's sales rallied 26% in the first quarter.