AlHijjah 28, 1435, October 22, 2014, SPA -- U.S. stocks soared on Tuesday with the Standard & Poor's 500 index and the Nasdaq composite index continuing gains for the fourth day. In international economic news, reports indicated that the European Central Bank may purchase corporate bonds on the secondary markets. China's gross domestic product (GDP) was above forecasts despite growing at its slowest pace in six years at 7.3 percent from July to September. China beat out industrial output forecasts as it increased 8 percent year-on-year, but retail sales and fixed-asset investment were below expectations. In U.S. economic news, existing homes sales in September increased to a one-year high. The U.S. dollar gained against major world currencies. Light sweet crude oil for December delivery rose to 58 cents to $82.49 a barrel on the New York Mercantile Exchange, while gold rose $7.00 to $1,251.70 an ounce. The Dow Jones industrial average rose 215.14, or 1.3, to 16,615.00. The broader S&P 500 index rose 37.27, or 2 percent, to 1,941.27. The technology-heavy Nasdaq composite index rose 103.40, or 2.4 percent, to 4,419.48.
