Dow stays above 11,000 after choppy trade

08:43, April 14, 2010      

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U.S. stocks closed mostly higher on Tuesday on investors' expectation that companies will delivery strong first season earnings.

The Dow Jones industrial average, which ended above 11,000 for the first time in over 18 months on Monday, successfully defended the key level despite Alcoa's mixed result.

Alcoa, the first Dow's 30 components to report results, said after Monday's closing that its earnings excluding items merely met analysts' estimates while revenue came in weaker than expected.

But the stocks pared early losses and returned to positive area on Tuesday, as investors are still upbeat about coming earnings. Tech heavyweight Intel and railroad company CSX are expected to post results late Tuesday.

In economic data, the Commerce Department said the U.S. trade deficit rose 7.4 percent to 39.70 billion dollars in February from a revised 36.95 billion dollars the month before even as oil imports fell to their lowest level in 11 years. Analysts believe it signals a pickup in domestic demand as imports grew.

The Dow Jones industrial average rose 13.45, or 0.12 percent, to 11,019.42. The Standard & Poor's 500 index inched up 0.82, or 0. 07 percent, to 1,197.30 and the Nasdaq gained 8.12, or 0.33 percent, to 2,465.99.



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