Photo by Bryan Thomas — Getty Images
By Fortune Editors
October 21, 2014

A strong rally Tuesday lifted the market’s main indexes, in particular driving the tech-rich Nasdaq composite index up 2.4 percent.

Stocks rallied after better-than-expected results from several major tech companies, including Apple (AAPL).

The broader S&P 500-stock index saw its fourth straight session of gains, rising 2 percent. The Dow Jones industrial average added 215 points, moving back into the black for 2014.

The S&P 500 has gained more than 6 percent from its session low last Wednesday, when the benchmark was down nearly 10 percent from its intraday record.

Apple rose 2.7 percent Tuesday, one day after it reported its quarterly revenue topped expectations, helped by strong iPhone sales. It also gave a strong outlook for the holiday quarter.

While earnings have largely come in strong so far this quarter, concerns continue to swirl over the pace of global economic growth. China’s gross domestic product grew 7.3 percent in the third quarter, the slowest pace since the first quarter of 2009.

U.S. existing home sales rose 2.4 percent in September, above expectations, hitting their highest level in a year.

—Reuters contributed to this report.


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