(dpa) - Two regional banking firms reported profits Tuesday
that beat expectations, shoring up confidence in the financial services
industry, and higher oil prices spurred buying in petroleum stocks.
"Now is a good time to begin going into financials,"
Daniel Bandi, chief investment officer at Integrity Asset Management LLC, told
Bloomberg Television. "You want to be there when the market senses
that the end is coming, because that's going to be a pretty sharp
rebound."
The blue-chip Dow Jones Industrial Average gained 60.41
points, or 0.49 per cent, to 12,362.47. The broader Standard &
Poor's 500 Index rose 6.11 points, or 0.46 per cent, to 1,334.43. The
technology-heavy Nasdaq Composite Index added 10.22 points, or 0.45 per cent,
to 2,286.04.
The US currency edged up against the euro to 63.331 euro cents
on Tuesday, compared to 63.15 euro cents on Monday. The dollar was up against
the Japanese currency to 101.85 yen on Tuesday, compared to 101.1 yen on
Monday.
Gold gained 3.30 dollars to 932 dollars per fine ounce.