US STOCKS-Wall St opens higher on IBM, GE optimism

NEW YORK, Jan 18 - U.S. stocks opened higher on Friday as a higher-than-expected profit forecast from IBM (IBM.N: Quote, Profile, Research) and earnings from General Electric Co (GE.N: Quote, Profile, Research) buoyed investor sentiment, a day after a sharp sell-off.

The Dow Jones industrial average .DJI was up 98.77 points, or 0.81 percent, at 12,257.98. The Standard & Poor's 500 Index .SPX was up 7.14 points, or 0.54 percent, at 1,340.39. The Nasdaq Composite Index .IXIC was up 13.77 points, or 0.59 percent, at 2,360.67. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)

US STOCKS-Wall Street gains with IBM, GE

- U.S. stocks rose on Friday, with the Dow industrials advancing 1 percent, helped by a higher-than-expected profit forecast from IBM (IBM.N: Quote, Profile, Research) and earnings from General Electric Co (GE.N: Quote, Profile, Research) that met Wall Street expectations.

Technical charts showed the market at its most oversold level since October 2002, on a weekly basis, which added to the rebound.

IBM was among the top gainers on the Dow and S&P 500, with its shares up 4.3 percent at $105.23. The world's largest computer services company said late on Thursday it expects 2008 earnings well above analysts' estimates.

The Dow Jones industrial average .DJI was up 144.37 points, or 1.19 percent, at 12,303.58. The Standard & Poor's 500 Index .SPX was up 11.47 points, or 0.86 percent, at 1,344.72. The Nasdaq Composite Index .IXIC was up 22.12 points, or 0.94 percent, at 2,369.02.

GE shares rose 3.6 percent to $34.42, also boosting the Dow and S&P. The company, an economic bellwether, posted a rise of 4 percent in quarterly profit.