US stocks log their biggest gain of the year as traders applaud earnings from Apple, others

Markets Associated Press

The stock market had its best day of the year as investors applauded solid earnings from U.S. companies and economic growth in China.

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It was the fourth straight gain for the Standard & Poor's 500. The index climbed 37 points, or 2 percent, to 1,941.

The market has now clawed back much of the ground it lost over the last two weeks. The S&P 500 is still 3.5 percent below the all-time high it reached in mid-September.

Apple rose 3 percent after predicting strong holiday sales, and Harley-Davidson jumped 7 percent after its results beat analysts' forecasts.

The Dow Jones industrial average rose 215 points, or 1.3 percent, to 16,614.

The Nasdaq composite rose 103 points, or 2.4 percent, to 4,419.