US Stocks End Higher with Boost from Corporate Earnings
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iStock/Thinkstock(NEW YORK) — The markets closed higher Tuesday following strong corporate earnings.
The Dow Jones Industrial Average climbed 86 points at 16,535.37. The Nasdaq Composite added 29 points at 4,103.54, and the S&P 500 closed at 1,878.33, gaining 9 points.
Ameriprise came in as the biggest gainer for the S&P after the financial planning company reported strong quarterly results. It also plans to buy back more of its own stock. IBM shares traded above $195 Tuesday. The company is raising its quarterly dividend by $0.15 to $1.10 per share.
First quarter earnings weren’t as positive for luxury handbag brand Coach, with the company announcing a drop in numbers. Shares fell 8.5 percent.
In a survey of 20 major metropolitan areas, the latest Standard & Poor’s Case-Shiller Home Price Indices shows that home prices rose nearly 13 percent in February from 2013.
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