Markets Hold Gains at Mid-Day Amid Impressive Earnings Reports

Stocks in the United States maintained their upward momentum at mid-day, buoyed by strong earnings reports from major companies, including JPMorgan Chase (JPM) and Intel (INTC). September retail sales, a key indicator of economic health, declined 1.5% due to the end of the "Cash for Clunkers" program, but sales outside of the automotive sector showed a significant improvement.

Key Takeaways:

JPMorgan Chase (JPM) reported Q3 earnings of $0.82 per share, surpassing analyst expectations and rising from $0.09 per share in the same quarter last year.
Intel (INTC) posted Q3 revenue of $9.4 bln, exceeding the analyst mean of $9.03 bln, and earning $0.33 per share, a nickel ahead of the Street view.
Abbott Labs (ABT) beat Q3 expectations, raising its FY guidance to a range of $3.70 to $3.72 per share, surpassing Street estimates of $3.69 per share.
Conseco (CNO) experienced a significant price surge following the announcement of a hedge fund led by billionaire John Paulson agreeing to purchase 16.4 million common shares and warrants to purchase another 5 million.
AMR (AMR) saw an increase in stock price after an upgrade to overweight from equal weight at Barclays, while Harley-Davidson (HOG) gained on an upgrade to outperform at Wells Fargo.
Global sentiment was largely positive, with the Hang Seng up 1.95% and the FTSE up 1.9%.

Statistics:

The NYSE Energy index rose 1.91% to 11,547.89.
The NYSE Financial index climbed 2.29% to 5,095.77.
JPMorgan Chase (JPM) Q3 earnings per share rose from $0.09 to $0.82.
Intel (INTC) Q3 revenue exceeded expectations, reaching $9.4 bln.
Retail sales in September declined 1.5%, with autos accounting for the largest drop at 10.4%.
The S&P 500 posted a 1.29% gain to 1,086.98.
The Nasdaq rose 1.22% to 2,166.09.

Sources:

"Boston, Oct 14, 2009 (MidnightTrader via COMTEX)"
MidnightTrader.com
"SmarTrend Alert" system
Comtex News Network, Inc.
Thomson Reuters