Stocks Rise As Financial, Consumer Stocks Gain

TIM PARADIS

NEW YORK (AP) — Investors encouraged by a good batch of earnings reports and forecasts jumped back into stocks after a two-day slide.

Stocks posted big gains Thursday as investors snapped up financial shares after several banks said they weren't seeing as many loans go bad. The market extended its advance in afternoon trading when Wal-Mart Stores Inc. said it expects sales to grow this year and increase at a faster pace next year.

The Dow Jones industrial average jumped 132 points and logged the biggest gain of major indexes after Wal-Mart's forecast and as several companies included in the indicator reported earnings that beat expectations.

The technology-heavy Nasdaq composite index advanced the least among major indicators following a disappointing forecast from online retailer eBay Inc.

Tech stocks could get a lift Friday following Amazon.com Inc.'s report that its third-quarter earnings jumped 62 percent. The online retailer brought in more revenue than expected and said it expects sales will continue to grow. The company's report arrived after markets closed, and its shares jumped 15 percent in late trading after ticking up only 3 cents during the day.