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US stocks extend gains on positive corporate earnings

IANS     January 11, 2012
US stocks rose on Tuesday amid positive data and better-than-expectation quarterly company revenues . Alcoa posted revenue above expectations after the market closed on Monday, Xinhua reported. The company posted a fourth-quarter loss of $191 million, but its revenue beat previous expectations, increasing 6 per cent to $5.99 billion.

The company's CEO Klaus Kleinfeld said that he expects global aluminium demand to grow 7 per cent in 2012.

On the economic front, small business optimism increased in December for the fourth consecutive month.

The Dow Jones industrial average gained 97.56 points, or 0.79 per cent, to 12,490.25.

The Standard & Poor's 500 was up 13.38 points, or 1.04 per cent, to 1,294.04.

The Nasdaq Composite Index rose 28.99 points, or 1.08 per cent, to 2,705.21.

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