A late-day rebound gave stocks a moderate advance Tuesday as sharply lower oil prices and an unexpected jump in consumer confidence settled unease over a batch of mixed earnings, the Associated Press reports.
The market fluctuated through much of the session after disappointing results from UPS Inc. and 3M Co. stoked concerns about the health of corporate profits. McDonald's Corp. and AT & T; Inc. both had strong earnings, but anxiety over interest rates and geopolitical tension kept investors from extending a solid advance in the prior session.
According to preliminary calculations, the Dow gained 52.66, or 0.48 percent, to 11,103.71. On Monday, a flurry of acquisitions and upbeat earnings boosted the blue-chip index by 182 points. Broader stock indicators also recovered. The Standard & Poor's 500 index added 7.97, or 0.63 percent, to 1,268.88, and the Nasdaq composite index rose 12.06, or 0.58 percent, to 2,073.90.
Today's Winner & Losers
Overhill Farms Inc. closed the day up 20 percent and closed at $3.70 while Enova Systems Inc. gained 9.9 percent to close at $3.90 and Jacobs Engineering Group gained 9.1 percent to close at $78.25.
On the other side were Emak Worldwide, which lost 27 percent to close at $3.96, Hi-Shear Technologies, which lost 3.2 percent to close at $14.69 and Peerless Systems Corp. which lost 3.2 percent and closed the day at $4.52.
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