State and Nation Business

U.S. stocks end higher as major earnings kick off

Specialist Anthony Rinaldi, right, works with traders on the floor of the New York Stock Exchange Friday, July 5, 2013.  Concern over China's slowdown weighed on Asian stocks Monday July 8, 2013 while European markets regained their footing after last week's stronger-than-expected U.S. jobs report.
Specialist Anthony Rinaldi, right, works with traders on the floor of the New York Stock Exchange Friday, July 5, 2013. Concern over China's slowdown weighed on Asian stocks Monday July 8, 2013 while European markets regained their footing after last week's stronger-than-expected U.S. jobs report.

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.

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