Tuesday's midday trade: Wall Street bounces back, Dow briefly passes 14,000

06 Feb, 2013

US stocks rose on Tuesday, with the Dow rising above 14,000, as earnings came in stronger than expected and investors sought bargains a day after the market's biggest drop since November. Dell Inc's stock rose after the world's No 3 computer maker agreed to be taken private in a $24.4 billion deal, the largest leveraged buyout since the 2008-2009 financial crisis.
The stock gained 0.8 percent to $13.39 after a delayed open. Major stock indexes fell about 1 percent in Monday's selloff, pressured by renewed worries over the euro zone's sovereign debt crisis. Still, equities have been strong performers recently, with the benchmark S&P 500 index up about 5 percent for 2013.
The Dow Jones industrial average was up 110.50 points, or 0.80 percent, at 13,990.58 after rising as high as 14,006. The Standard & Poor's 500 Index was up 13.42 points, or 0.90 percent, at 1,509.13. The Nasdaq Composite Index was up 30.96 points, or 0.99 percent, at 3,162.13.

Read Comments