Stocks snapped back for their first gain in three days, with health-care, industrials and materials shares leading the charge. The Dow Jones Industrial Average advanced 61.66 points, or 0.5%, to 13390.51, with Boeing BA +3.55%bouncing back to lead Dow components. The Standard & Poor's 500-stock index added 3.87 points, or 0.3%, to 1461.02, while the Nasdaq Composite Index advanced 14 points, or 0.45%, to 3105.81.
Boeing climbed $2.63, or 3.6%, to $76.76, one day after falling 2.6% due in part to a run of glitches with its flagship Dreamliner jet. Among other Dow components, Hewlett-Packard HPQ +2.99%rose 46 cents, or 3%, to 15.85; UnitedHealth Group UNH +1.89%climbed 97 cents, or 1.9%, to 52.37; and Pfizer PFE +1.73%gained 45 cents, or 1.7%, to 26.47. Alcoa AA -0.22%slipped two cents, or 0.2%, to 9.08, after the aluminum company reported late Tuesday that revenue was well above forecasts and said it expects the pace of aluminum demand growth in 2013 to increase. Because Alcoa is the first Dow component to report results, it is seen as marking the start of the fourth-quarter earnings-reporting season.
European markets traded broadly higher. The Stoxx Europe 600 gained 0.7% to its highest level in nearly two years, and the U.K.'s FTSE 100 added 0.7% to its highest closing value since May 2008. In Asia, Japan's Nikkei Stock Average climbed 0.7%, with a decline in the yen helping underpin exporter shares, and Australia's S&P/ASX 200 added 0.4%.
There are no major U.S. economic data scheduled for release. Crude-oil prices reversed morning gains to slip less than 0.1%, to settle at $93.10 a barrel, while gold lost 0.4%, to settle at $1,654.80 a troy ounce. Treasurys prices rose, pushing the yield on the 10-year note down to 1.853%. Apple AAPL -1.56%lost 8.21, or 1.6%, to 517.10, after The Wall Street Journal reported the technology company was working on a less-expensive version of the iPhone amid increased competition. Facebook rose 1.53, or 5.3%, to 30.59, to close above $30 a share for the first time since July. [The Wall Street Journal]
FKLI opened slightly higher this morning at 1,697.5 following gains in U.S stocks. Today’s Support and Resistance for January contract is located around 1,690 and 1,700 respectively.
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