<p>Even though the two tech giants disappointed, overall earnings results have come in much better than some investors had feared, said Dan Veru, chief investment officer at Palisade Capital Management in Fort Lee, N.J.</p><p>"Everyone is breathing a sigh of relief that things aren't all that bad," Veru said. "That's what you see happening now."</p><p>Global heavyweights such as FedEx and Caterpillar had warned investors that China's slowing economy and Europe's ongoing debt crisis would weigh on quarterly profits.</p><p>The stock market shot higher Tuesday as results from Mattel, Goldman Sachs, and Johnson &amp; Johnson beat expectations. For the week, the Dow is now up 1.6 percent and the S&amp;P 500 is up 2.2 percent.</p><p><a href="http://www.washingtonpost.com/business/technology/ibm-and-intel-drag-on-the-dow-housing-report-pushes-most-stocks-up/2012/10/17/c4e9499c-1865-11e2-a346-f24efc680b8d_story.html">Keep reading...</a></p><p>Read also:</p><p><a href="http://www.reuters.com/article/2012/10/17/us-markets-stocks-idUSBRE89E0BC20121017">S&amp;P 500 rises on housing, but IBM, Intel drag on Dow</a> (Reuters)</p><p><a href="http://blogs.wsj.com/marketbeat/2012/10/17/stocks-to-watch-ibm-intel-fortinet/">Stocks to Watch: IBM, Intel, Fortinet</a> (Wall Street Journal (blog))</p><p><a href="http://stream.marketwatch.com/story/markets/SS-4-4/SS-4-14758/">IBM, Intel results weigh down tech stocks</a> (MarketWatch)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=d7H9TK-ox49a2MMwEY9qXV_e53zjM&ned=us">403 additional articles.</a></p>