U.S. stocks modestly higher on bear bottom anniversary

13:20, March 10, 2010      

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The U.S. stocks rose modestly on Tuesday, as investors bet on hope of a U.S. recovery.

One year after the market hit the 12-year lows amid the severe crisis last year, Dow average recovered more than 61 percent, S&P gained 68 percent, while Nasdaq rallied about 84 percent. It has been the biggest bull run since the 1930s.

Nevertheless, Tuesday still marked another day of quiet trading. Major averages fluctuated in a tight range as investors were seeking more signs to lift the market higher.

With no economic data due on Tuesday, investors turned their attention to Washington, where Greek Prime Minister George Papandreou is scheduled to meet with U.S. President Barack Obama. Greece sovereign debt concerns have been weighing on the market in the past few weeks.

Wall Street ended narrowly mixed on Monday after major averages ending Friday's session at a fresh six-week closing high. The volume was also light, showing investors would rather wait on the sidelines until they see any further signs of economic recovery.

The Dow Jones industrial average added 11.86, or 0.11 percent, to 10,564.38. The Standard & Poor's 500 index rose 1.94, or 0.17 percent, to 1,140.44 and the Nasdaq was up 8.47, or 0.36 percent, to 2,340.68.

Source:Xinhua
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