NEW YORK (CNNMoney)
The Dow Jones industrial average gained more than 100 points, or 0.8%. The S&P 500 and Nasdaq also added 0.8%.
Investors were encouraged after Goldman Sachs (GS, Fortune 500), Johnson & Johnson (JNJ, Fortune 500) and Coca-Cola (KO, Fortune 500) released better-than-expected earnings results.
Coca-Cola shares jumped more than 3%, leading the gains on the Dow. Goldman Sachs shares were slightly lower, while Johnson & Johnson shares gained modest ground.
Target (TGT, Fortune 500) shares pulled back after the discount retailer lowered its earnings and sales forecast, blaming seasonal factors.
Stocks fell Monday, with the sell-off intensifying following news of two explosions in Boston. The Dow plunged 266 points, or 1.8%, while the Nasdaq and S&P both lost more than 2%.
Related: World markets drop on worries about economic growth
Meanwhile, gold rebounded Tuesday, a day after a 9% tumble to a 2-year low. Prices were up more than 2%, hovering just below $1,400 an ounce. Other commodities were mixed.
"I think yesterday's decline, in both commodities and equities, may have been overdone, so we're having a bit of a rebound," said Peter Cardillo, chief market economist at Rockwell Global Capital.
The Boston bombings have "a minimal economic impact, but a very large emotional impact in the marketplace," added Lazard managing director Art Hogan, who was working in Boston at the time of the attack. "This is a harsh reminder that we live in a very dangerous world."
Hogan said the impact of the attack on Tuesday trading remains to be seen, and is likely to be influenced by the release of new information.
Related: Fear & Greed Index turns toward fear
On the economic front, investors are digesting morning reports on inflation, housing starts, building permits and industrial production. The International Monetary Fund is also due to release new global economic forecasts Tuesday.
The Consumer Price Index slipped 0.2% in March, more than the 0.1% decline that economists expected. Core CPI, excluding food and energy prices, rose 0.1%.
Housing starts for March topped 1 million for the first time since June of 2008, reaching an annual rate of 1,040,000. Building permits came in at an annual rate of 902,000 in March, slightly less than the forecast of 945,000.
Housing stocks gained sharply after the report. Shares of homebuilders Lennar (LEN) and PulteGroup (PHM) were up about 3%.
European markets were flat in midday trading on concerns about slowing global growth, while Asian markets ended mixed. The Nikkei dropped 0.4%, the Shanghai Composite added 0.6% and the Hang Seng fell 0.5%.
The dollar was lower versus the euro and the pound Monday, but higher versus the Japanese yen.
The price on the 10-year Treasury yield fell, pushing the yield up to 1.73% from 1.70% late Monday.
First Published: April 16, 2013: 9:49 AM ET
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