Stocks recouped earlier losses to end modestly higher Tuesday as investors set aside nervousness over an uneasy start to the second-quarter earnings season, marked by weak results from Alcoa Inc. and a sales warning at Lucent Technologies Inc., the Associated Press reports.
With no economic data scheduled, the market focused on the impact of higher interest rates and energy costs on corporate profits. Early disappointments from Dow Jones industrial Alcoa and Lucent dragged the major indexes sharply lower before they rebounded late in the session.
According to preliminary calculations, the Dow rose 31.22, or 0.28 percent, to 11,134.77, after tumbling as much as 75 points earlier. Broader stock indicators also reversed course to post moderate gains. The S & P; 500 added 5.18, or 0.41 percent, to 1,272.52, and the Nasdaq composite index gained 11.93, or 0.56 percent, to 2,128.86.
Winners & Losers
Crown Media Holdings Inc. gained almost 7 percent to close at $4.49 while True Religion Apparel Inc. rose 3.8 percent to close at $18.58 and Peerless Systems Corp. ended the day up 3.62 percent at $4.87.
Reinhold Industries Inc. lost 4.56 percent and closed at $12.98 while Summa Industries lost 4.53 percent to close at $9.70 and Mankind Corp. finished down 4.21 percent to closed at $19.81.
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