At the close of trading in NY, the Dow Jones Industrial Average advanced 140.67 points, or 0.5%, to 26,392.79.
Of the 133 S&P 500 companies that have reported quarterly earnings so far, 79.7 percent have topped expectations, versus an average of 72 percent over the previous four quarters.
Intel's shares surged as high as $50.15, their highest level since October 2000, and closed up 10.55 per cent at $50.08 after results indicated that the chipmaker's shift to higher-margin data-center business was working.
AbbVie surged 13.8 per cent, while Dow member Pfizer gained 4.8 per cent and Gilead Sciences advanced 5.3 per cent.
DA seeks to bar parents from contacting 13 kids kept captive
A U.S. judge has barred the parents of 13 siblings found last week living captive in their home from contacting their children. The court proceeding is the latest step by authorities to sever ties between David and Louise Turpin and their 13 children.
But Wynn Resorts plummeted 10.1 per cent after the Wall Street Journal published an investigation outlining numerous complaints of sexual misconduct by billionaire casino mogul Steve Wynn. A roll-over in tech stocks, valuation concerns and worries about protectionist USA policies knocked the major indexes from their records. On the Nasdaq, 1,398 issues rose and 963 fell. The results of Intel and some other companies helped investors shrug off weaker-than-expected U.S. economic growth data.
The dollar index, which measures the greenback against a basket of six major currencies, was down 0.33 per cent at 89.1 and on track for a weekly fall of 1.6 per cent. American Airlines lost 2.9 percent.
Gold, natural gas and semiconductor stocks also came under pressure on the day, while utilities, pharmaceutical and chemical stocks showed strong moves to the upside. "Most importantly, 1Q 2018 EPS estimates are rising and that is the first time we have seen aggregate S&P 500 EPS estimates going higher in any earnings season in seven years". S. crude rose 0.89 percent to $66.09 per barrel and Brent was last at $70.47, up 0.07 percent on the day.
Intel's (INTC.O) shares jumped 7 percent to their highest in nearly two decades, after strong results offered the clearest sign yet that its years-long effort to shift away from a slowing PC business was paying off.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent.