US stocks : Dow up 0.6 pct
Volume was roughly 6.43 billion shares traded on the NYSE, the Nasdaq and the NYSE MKT, compared with the year-to-date average daily closing volume of roughly 6.5 billion.
Other major tech stocks also rose. Texas Instruments gained 4 percent to $31.01 after bumping up its profit target late Monday. That helped other chipmakers rally, with the PHLX Semiconductor index up 1.9 percent. Microsoft rose 1.4 percent to $27.32.
The lack of demonstrable progress in the fiscal cliff negotiations has kept investors from making aggressive bets in recent weeks.
Republican House Speaker John Boehner called on President Barack Obama to propose a counter-offer on Tuesday.
Retailers like luggage maker Tumi Holding Inc and Michael Kors Holding gained on Tuesday after a positive report from Goldman Sachs Equity Research. Tumi was up 4.7 percent to $21.92 and Michael Kors gained 2.4 percent, reaching $50.92.
By contrast, discount retailers Dollar General and Family Dollar declined. Dollar General, whose shares fell 7.8 percent to $42.94, said it sees margins under pressure in 2013. Family Dollar shares dropped 8.4 percent to $64.68.
SPX Corp shares fell 9.1 percent to $62.07 and the stock was the biggest percentage decliner on the New York Stock Exchange after sources said the company is in exclusive talks to buy rival Gardner Denver, in a merger that could create an industrial machinery conglomerate with a market value over $7 billion.
The U.S. Treasury is selling its remaining stake in insurer American International Group Inc. AIG's
Be the first to comment.