US STOCKS-Financials drive Wall St higher; Amazon up late

Thu Oct 22, 2009 10:55pm BST
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* Amazon.com soars after the bell

* J Crew raises view, shares jump; retailers rise

* Dow up 1.3 pct; S&P up 1.1 pct; Nasdaq up 0.7 pct

* For up-to-the-minute market news, click [STXNEWS/US] (Recasts, changes quote, adds Amazon's results after the bell and volume during regular trading)

By Rodrigo Campos

NEW YORK, Oct 22 (Reuters) - U.S. stocks rose on Thursday after quarterly results from insurer Travelers and regional bank PNC Financial gave a boost to financial stocks.

Financials were among the top gainers after insurer Travelers Cos Inc (TRV.N: Quote, Profile, Research) posted gains after it raised its full-year outlook and regional bank PNC Financial Services Group Inc (PNC.N: Quote, Profile, Research) shares jumped 12.7 percent to $50.65 on far better-than-expected quarterly earnings.

Adding to the positive tone, New York Fed President William Dudley said the Federal Reserve may not lose money on the emergency programs it put in place to fight the financial crisis. For details see [ID:nN2225154].  Continued...

 
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