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Posted: Wednesday, 15 January 2014 9:35PM

Stocks Extend Rally to Second Day



iStock/Thinkstock(NEW YORK) -- A strong earnings report from Bank of America helped to lift stocks again, extending a rally to a second day.

The Dow Jones Industrial Average closed up 110 points at 16,481.94. The Nasdaq Composite added 32 points, finishing the session at a 13-year high of 4,214.88. The S&P 500 cruised to a record close, up 10 points to 1,848.38.

Bank of America's fourth-quarter numbers show a five-fold increase in its profit stock, up 2.6 percent for the day.

Bank and technology stocks were the session's biggest gainers.  

Apple's settlement with the FTC over its children's apps also didn't appear to faze investors. Apple stock was up 2 percent Wednesday, ahead of plans to start selling its iPhone in China on Friday.

The next sale at your local J.C. Penney may be a going out-of-business sale. The struggling retailer will close 33 underperforming stores, eliminating 2,000 jobs. The move could save Penney's $65 million this year.

Copyright 2014 ABC News Radio


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