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Philadelphia Semiconductor Index hits all-time high

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Apple ( AAPL ) shares hit record high

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Boeing ( BA ) rises after FAA approves 737 MAX production raise

(Updates to market close)

By Stephen Culp

NEW YORK, Oct 20 (Reuters) - U.S. stocks jumped on

Monday with finance and technology shares providing much of the

upside muscle, as upbeat quarterly earnings results revived risk

appetite and investors grew less fearful about regional bank

credit quality.

A broad rally sent all three major U.S. stock indexes to a

sharply higher close. The small cap Russell 2000

outperformed its larger counterparts.

"It's a good, solid, across-the-board move, there's not

a lot of negative in the market," said Paul Nolte, senior wealth

advisor & market strategist at Murphy & Sylvest in Elmhurst,

Illinois. "There's some relief from the financials ... investors

are looking at it as maybe a bit of an overreaction on the

downside last week."

"As far as the market's concerned, everything is

wonderful again."

Apple ( AAPL ) stock touched a record high, while Meta

, Netflix ( NFLX ) and Alphabet posted solid

gains.

The Philadelphia Semiconductor Index breached an

all-time high during the session.

Third quarter earnings season has shifted into high gear.

Notable results this week include Tesla, Netflix ( NFLX )

, IBM ( IBM ), Intel ( INTC ), GM and Ford,

along with a spate of other high-profile industrial firms,

including aerospace, transports and diversified manufacturers.

Upcoming U.S. regional bank results are expected to provide

a closer read of the sector on the heels of last week's selloff,

which was driven by fears of systemic credit stress.

Analysts currently expect third-quarter S&P 500 earnings

growth, on aggregate, of 9.3% year-on-year, marking an

improvement over their 8.8% growth estimate as of October 1.

"A lot of the uncertainty that the businesses were

concerned about -- tax legislation, the tariffs -- earlier this

year has subsided for the time being, and that's allowed

companies to focus on earnings and profitability," said Matthew

Keator, managing partner in the Keator Group, a wealth

management firm in Lenox, Massachusetts.

Sentiment was given an extra boost by White House economic

advisor Kevin Hassett, who said the federal government shutdown

is likely to end this week.

With the federal shutdown entering day 20, investors and

policymakers have had to feel their way forward amid the

resulting data blackout. But on Friday the Labor Department will

make an exception by releasing its September consumer price

index (CPI), which will provide the data dependent U.S. Federal

Reserve with a glimpse at the state of inflation and perhaps an

indication regarding the extent to which President Donald

Trump's tariffs are affecting price growth.

In the ongoing trade skirmish between Washington and

Beijing, Trump suggested easing tariffs on China if Beijing

resumes key agricultural purchases including soybeans. Trump

blamed the latest showdown on China's rare earth export

controls.

According to preliminary data, the S&P 500

gained 71.13 points, or 1.07%, to end at 6,735.02 points,

while the Nasdaq Composite gained 310.57 points, or

1.37%, to 22,990.54. The Dow Jones Industrial Average

rose 513.06 points, or 1.11%, to 46,704.50.

Among other stock moves, Boeing ( BA ) advanced after

the planemaker won approval from the U.S. Federal Aviation

Administration to raise 737 MAX production to 42 planes per

month.

WeightWatchers surged following the company's

announcement that it would partner with Amazon ( AMZN ) for weight-loss

drug delivery.