Earnings reports spur US stocks higher
THE ASSOCIATED PRESS July 8, 2013 7:58AM
Stocks rose in early trading Monday ahead of the start of second-quarter corporate earnings reports. | AP file photo
Updated: July 8, 2013 3:22PM
NEW YORK — Stocks are closing higher as companies prepare to start reporting their second-quarter earnings.
The Dow Jones industrial average rose 88.85 points, or 0.6 percent, to close at 15,224.69 on Monday. The Standard & Poor’s 500 climbed 8.57 points, or 0.5 percent, to end at 1,640.46. The Nasdaq composite was up 5.45 points, or 0.2 percent, at 3,484.83.
Wall Street is turning its attention to the performance of companies during the recent second quarter. Alcoa kicks off the reporting Monday, when it announces results after the close of trading.
Alcoa closed up 11 cents, or 1.4 percent, at $7.92.
Small-company stocks, which do best when investors are confident about economic growth, hit a milestone. The Russell 2000 index closed at an all-time of 1,009.25.
Dell’s stock price was up 38 cents, or 3 percent, at $13.40 after an advisory firm recommended that company shareholders support a plan to take the computer giant private.