Strong earnings from Intel Corp and Goldman Sachs lifted hopes of a rebound in corporate profits.

Intel’s quarterly earnings of 18 cents a share, far exceeded forecasts of eight cents a share, and also gave an outlook that blew past forecasts.

The company said demand was especially strong in Asia, bolstering hopes the region would recover even as most Western economies struggle.

Goldman Sachs Group, Wall Street’s largest investment bank, reported profits rose by a third in the second quarter, far exceeding expectations as a one-time charge to repay government loans was offset by strong gain in trading.

The results showed an extra-ordinary turnaround from the near meltdown in the US banking sector last year.

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