US stocks rose sharply on Tuesday as investors welcomed a slew of quarterly corporate results and as a decline in borrowing costs for Spain eased concerns about Europe's debt crisis. Profits at Coca-Cola Co, Goldman Sachs Group Inc and Johnson & Johnson all beat analysts' estimates and lifted hopes for the rest of the earnings season.
Of the 39 S&P 500 companies that have reported earnings, 74.4 percent beat estimates, according to Thomson Reuters data. The Dow Jones industrial average jumped 190.80 points, or 1.48 percent, at 13,112.21. The Standard & Poor's 500 Index was up 20.37 points, or 1.49 percent, at 1,389.94. The Nasdaq Composite Index soared up 52.28 points, or 1.75 percent, at 3,040.68. Apple Inc gained 3.4 percent to $600.22, putting shares of the iPad maker on track to snap a 5-day losing streak during which it lost 8.8 percent.