Stocks rebound to end higher on stimulus hopes, earnings

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U.S. stocks closed higher Tuesday as investors remained optimistic about the prospects of additional fiscal aid from Washington. The Dow Jones Industrial Average added about 113 points, 0.4%, to close near 28,308, according to a preliminary reading, while the S&P 500 gained 16 points, 0.5%, closing near 3,443. The Nasdaq Composite was up 38 points at the close, a gain of 0.3%, at 11,516. House Speaker Nancy Pelosi on Tuesday downplayed an earlier deadline she’d set to conclude negotiations over a stimulus package, as Democrats and Republicans continued to speak. Meanwhile, corporate earnings remain mixed: Shares of grocery chain Albertsons Cos. Inc. jumped nearly 6% after reporting better-than-expected earnings and offering bullish guidance. But International Business Machines Corp. said its revenue fell in the third quarter.
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