US close: Stocks edge higher as House votes on debt limit

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LONDON (ShareCast) - - US House votes to suspend borrowing limit
- Technology giants push stocks higher

Dow Jones Industrials: 0.49%
Nasdaq Composite: 0.33%
S&P 500: 0.15%

The main US equity benchmarks ended on a high note Wednesday after the House of Representatives voted to temporarily suspend the government's borrowing limit.

Leaders passed a Republican plan to lift the nation's debt ceiling through mid-May, giving lawmakers time to tackle other fiscal issues.

The House voted 285-144 with strong support from both Democrats and Republicans.

The bill would hold back on the need to increase the debt limit above $16.4tn by the end next month.

Once the suspension is lifted, the government will be able to raise the limit to what is required to meet the Treasury's financing needs.

Investors breathed a sigh of relief as the government edged closer towards mending the country's economy.

Also pushing stocks higher were encouraging results from technology giants including Advanced Micro Devices (NYSE: AMD - news) , Google (NasdaqGS: GOOG - news) , and International Business Machines (IBM (NYSE: IBM - news) ).

Advanced Micro Devices shares jumped as the chip maker's adjusted fourth-quarter loss of 14 cents per share exceeded market expectations for a loss of 21 cents a share.

Google advanced after the search engine reported $14.4bn in revenues for the fourth quarter of 2012 and announced a record $50bn year.

Technology heavyweight IBM gained following a reported 6.3% increase in fourth-quarter earnings, driven by sales in cloud computing and business analytics software.

Hewlett-Packard, on the other hand, slid after reports a US investor activist group affiliated with unions asked the tech company replace its auditor, Ernst & Young, over the troubled acquisition of UK software company Autonomy.

Intuitive Surgical (NasdaqGS: ISRG - news) soared after reporting fourth-quarter earnings rose 16% following a growth in the use of its da Vinci (Other OTC: VCISF - news) robotic surgical systems.

Front month West Texas crude futures fell by 1.267% to the $95.47 per barrel level on the NYMEX.

Ten year US Treasury yields were down by 1 basis point to the 1.83% mark.

S&P 500 - Risers
Advanced Micro Devices Inc. (AMD) $2.73 +11.43%
Intuitive Surgical Inc. (ISRG) $567.40 +9.43%
Netflix Inc (NasdaqGS: NFLX - news) . (NFLX) $103.33 +5.64%
Google Inc. (GOOG) $741.53 +5.50%
Safeway Inc (NYSE: SWY - news) . (SWY) $19.85 +5.36%
International Business Machines Corp. (IBM) $204.72 +4.41%
CSX Corp (NYSE: CSX - news) . (CSX) $21.68 +4.18%
Whirlpool Corp (NYSE: WHR - news) . (WHR) $107.70 +3.64%
Tesoro Corp. (TSO) $44.46 +3.35%
Nabors Industries Ltd (NYSE: NBR - news) . (NBR) $16.30 +2.97%

S&P 500 - Fallers
Coach Inc (NYSE: COH - news) . (COH) $50.75 -16.36%
R.R. Donnelley & Sons Co. (RRD) $9.29 -7.29%
Quest Diagnostics (NYSE: DGX - news) (DGX) $58.41 -5.53%
Alexion Pharmaceuticals Inc (NasdaqGS: ALXN - news) . (ALXN) $92.96 -4.56%
Seagate Technology Plc (STX (KSE: 011810.KS - news) ) $36.63 -3.33%
Laboratory Corporation of America Holdings (LH) $87.38 -3.23%
Cliffs Natural Resources Inc (NYSE: CLF - news) . (CLF) $37.18 -3.20%
Molex Inc. (MOLX) $27.83 -2.93%
Praxair Inc (NYSE: PX - news) . (PX) $110.77 -2.85%
Electronic Arts Inc (NasdaqGS: EA - news) . (EA) $14.06 -2.56%

Dow Jones I.A - Risers
International Business Machines Corp. (IBM) $204.72 +4.41%
Walt Disney Co. (DIS) $53.95 +2.31%
Microsoft Corp. (MSFT) $27.60 +1.66%
Home Depot Inc. (HD) $66.46 +1.08%
Procter & Gamble Co (NYSE: PG - news) . (PG) $70.69 +1.06%
United Technologies Corp (NYSE: UTX - news) . (UTX) $88.07 +0.69%
Bank of America Corp. (BAC) $11.42 +0.62%
McDonald's Corp. (MCD) $93.48 +0.57%
AT&T Inc. (T) $33.78 +0.51%
Johnson & Johnson (NYSE: JNJ - news) (JNJ) $72.85 +0.22%

Dow Jones I.A - Fallers
Hewlett-Packard Co. (HPQ) $17.01 -1.39%
Cisco Systems Inc (NasdaqGS: CSCO - news) . (CSCO) $20.62 -1.20%
Caterpillar Inc (NYSE: CAT - news) . (CAT (Taiwan OTC: 4990.TWO - news) ) $96.85 -0.89%
Merck & Co. Inc (Xetra: A0YD8Q - news) . (MRK) $42.82 -0.88%
American Express Co. (AXP) $58.93 -0.79%
Chevron Corp. (CVX) $115.01 -0.78%
E.I. du Pont de Nemours and Co. (DD) $47.50 -0.67%
JP Morgan Chase (Other OTC: JFTTL - news) & Co. (JPM) $46.23 -0.67%
Alcoa Inc (NYSE: AA - news) . (AA) $9.15 -0.54%
Travelers Company Inc. (TRV) $77.64 -0.40%

Nasdaq 100 - Risers
Intuitive Surgical Inc. (ISRG) $567.40 +9.43%
Google Inc. (GOOG) $741.53 +5.50%
Symantec Corp. (SYMC) $21.46 +2.88%
F5 Networks Inc (NasdaqGS: FFIV - news) . (FFIV) $98.81 +2.19%
Starz Class A (STRZA) $16.10 +2.16%
CA Inc. (CA) $25.07 +2.12%
Citrix Systems Inc (NasdaqGS: CTXS - news) . (CTXS) $68.85 +1.89%
Apple Inc (NasdaqGS: AAPL - news) . (AAPL) $514.01 +1.83%
Microsoft Corp. (MSFT) $27.60 +1.66%
Check Point Software Technologies Ltd (NasdaqGS: CHKP - news) . (CHKP) $48.66 +1.44%

Nasdaq 100 - Fallers
Alexion Pharmaceuticals Inc. (ALXN) $92.96 -4.56%
Seagate Technology Plc (STX) $36.63 -3.33%
Fossil Inc (NasdaqGS: FOSL - news) . (FOSL) $103.47 -2.34%
Sears Holdings Corp. (SHLD) $45.06 -1.64%
Staples Inc (NasdaqGS: SPLS - news) . (SPLS) $12.94 -1.60%
Garmin Ltd (NasdaqGS: GRMN - news) . (GRMN) $38.30 -1.52%
Gilead Sciences Inc (NasdaqGS: GILD - news) . (GILD) $76.83 -1.39%
Express Scripts Holding Co (ESRX) $53.78 -1.38%
Sirius XM Radio Inc (NasdaqGS: SIRI - news) (SIRI) $3.11 -1.27%
Vertex Pharmaceuticals Inc. (VRTX) $46.49 -1.23%