US stocks extend gains on positive data
January 11th, 2012 - 7:47 am ICT by IANS ( Leave a comment )New York, Jan 11 (IANS) US stocks rose Tuesday amid positive data and better-than-expectation quarterly company revenues.Alcoa posted revenue above expectations after the market closed Monday, Xinhua reported.The company posted a fourth-quarter loss of $191 million, but its revenue beat previous expectations, increasing 6 percent to $5.99 billion.
The company’s CEO Klaus Kleinfeld said that he expects global aluminum demand to grow 7 percent in 2012.
On the economic front, small business optimism increased in December for the fourth consecutive month.
The Dow Jones industrial average gained 97.56 points, or 0.79 percent, to 12,490.25.
The Standard & Poor’s 500 was up 13.38 points, or 1.04 percent, to 1,294.04.
The Nasdaq Composite Index rose 28.99 points, or 1.08 percent, to 2,705.21.
–Indo-Asian New Service
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