Stocks Rise on Earnings Optimism
NEW YORK ( TheStreet) -- Stocks finished solidly higher Tuesday as above-consensus earnings reports helped investors move past the latest evidence that more monetary stimulus is unlikely from Federal Reserve this summer.
After initially swooning in the wake of Chairman Ben Bernanke's downbeat appearance before Congress, all three major U.S. equity averages rallied into positive territory with defensive stocks leading the way.
The Dow Jones Industrial Average jumped 78 points, or 0.61%, to close at 12,805, bouncing 160 points off a session-low of 12,645. The blue-chip index is now up 4.81% so far in 2012, rising in two of the past three trading days.
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