Financial, Business, Personal Finance News

The hope of good results supports Wall Street

Wall Street has ended sharply higher on Tuesday, posting a sixth win in a row, in response to results and forecasts of Alcoa aluminum companies.

Alcoa reported Monday better than expected quarterly results while revising upwards its forecast for global demand for aluminum.

Alcoa shares closed up 1.2% to $ 11.

"The fact we think this trend (solid results) will contribute to re-confirm the risk in the market," said Peter Cardillo (Avalon Partners).

The Dow Jones gained 1.44% to 10,363.02 points. The S & P 500 has been 1.53% to 1095.29 points.The Nasdaq Composite Index advanced 1.99% to 2242.03 points.

The S & P has gained over 5% last week, the highest weekly gain this year and scholars eagerly awaiting the results of companies to see if this rally is justified.

But the decline in volumes worries some analysts. The volume on Monday fell to a new low of six months, observes Scott Fullman (WJB Capital Group). He also noted a decrease in the total volume of options.

Low volumes generally pass to denote a lack of conviction of investors.The summer period, however, may also explain the slowdown.

Statistic of the day was the trade deficit widened in May to its highest level since November 2008.

The Apple stock has yielded 2% to 252.11 dollars, after the site specializes Consumer Reports had indicated that he did not recommend the iPhone 4, his tests have confirmed a loss of signal when the handset is required to somehow.

Action Research In Motion, maker of the Blackberry competitor, has instead increased from 3.35% to 55.6 million.

Intel, which was to publish its quarterly after the close, gained 2.14% to 21.01 dollars.

The auction site eBay jumped from 4% to 21.02 dollars.

And even if it is pursued by XPRT Ventures company which is claiming nearly four billion dollars in damages for alleged infringement of six patents related to the development of related payment systems such as PayPal.