US equities extend gains, S&P 500 up 1.2%

<p>The S&amp;P 500 is at the highs of the week as it extends today's gain to 52 points, or 1.2%.</p><p>Consumer discretionary stocks and Chinese stocks are doing particularly well. Some of that is being driven by a 7% gain in BABA shares after earnings.</p><p>Disney shares in the US are up 1.6% after earnings but at the moment, the gains are fairly broad based.</p>

This article was written by Adam Button at www.forexlive.com.