Stocks rebound to end higher on stimulus hopes, earnings

Stocks rebound to end higher on stimulus hopes, earnings

U.S. stocks closed higher Tuesday as investors remained optimistic about the prospects of additional fiscal aid from Washington. The Dow Jones Industrial Average DJIA, +0.40% added about 113 points, 0.4%, to close near 28,308, according to a preliminary reading, while the S&P 500 SPX, +0.47% gained 16 points, 0.5%, closing near 3,443.

The Nasdaq Composite COMP, +0.32% was up 38 points at the close, a gain of 0.3%, at 11,516. House Speaker Nancy Pelosi on Tuesday downplayed an earlier deadline she’d set to conclude negotiations over a stimulus package, as Democrats and Republicans continued to speak. Meanwhile, corporate earnings remain mixed: Shares of grocery chain Albertsons Cos. Inc. ACI, +5.84% jumped nearly 6% after reporting better-than-expected earnings and offering bullish guidance. But International Business Machines Corp. IBM, -6.49% said its revenue fell in the third quarter.

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