Nasdaq reaches 18-month high

The Nasdaq composite index had its first close above 1,900 in 18 months today and the Dow Jones industrials and Standard & Poor’s 500 index reached new 15-month highs as US stocks surged.

Analysts said the advance was yet another indication of the market’s improving mood, but they also cautioned that the approach of the earnings reporting season could make it difficult for Wall Street to have more significant advances.