Breaking News Emails
Stocks climbed on Tuesday, with the S&P 500 rebounding after a three-session slide and the Dow gaining triple figures, as investors looked to earnings reports and data on the labor market this week in measuring the state of the economic recovery.The Dow Jones Industrial Average, which had dropped 44 points on Monday, was 104 points higher in afternoon trading, with UnitedHealth Group leading gains that included all but three of the blue-chip index's 30 components. Deutsche Bank upgraded its view of the insurer's stock to buy from hold. Johnson & Johnson also gained after RBC Capital markets hiked the health-care products supplier to outperform from sector perform.JPMorgan Chase was the Dow's biggest loser, off 1 percent after authorities said the bank would have to pay $1.7 billion to settle charges it violated laws that require banks to monitor customer activity for money laundering in its handling of accounts of Bernie Madoff.The S&P 500 rose 9 points, with health care and technology leading gains that included all 10 of its major industry sectors.The Nasdaq added 32 points, led by Neurocrine Biosciences, up 78 percent after the company said one of its experimental drugs helped treat the symptoms of an illness that causes involuntary spasms.
Earier, the Commerce Department reported the trade deficit in the U.S. narrowed more than forecast as oil imports fell and exports rose, with the gap narrowing to $34.3 billion.The ADP Research Institute reports on corporate payrolls on Wednesday, with minutes from the Federal Reserve's December meeting slated for release in the afternoon. The Labor Department reports on non-farm payrolls and the jobless rate for December on Friday.