Tuesday's afternoon trade: stocks jump one percent

US stocks jumped about 1 percent on Tuesday on strong earnings from IBM and Coca-Cola, offsetting investor disappointment in results from big financial firms. Dow component International Business Machines Corp added 3.2 percent to $180.80 a day after it said new business at its services division was up more than expected, raising hopes for the technology sector.
The S&P information technology sector gained 1.8 percent, the top gainer among S&P sectors. Shares of Apple hit a 52-week high ahead of its report due after the closing bell.
The Dow Jones industrial average was up 121.40 points, or 0.98 percent, at 12,506.56. The Standard & Poor's 500 Index was up 12.80 points, or 0.98 percent, at 1,318.24. The Nasdaq Composite Index was up 44.45 points, or 1.61 percent, at 2,809.56.