Wall Street Rallies For Fourth Straight Session On Earnings Optimism

Category: Economy / Jul 09, 2013 4:25PM EDT

Wall Street rallied for the fourth straight session Tuesday as Alcoa Inc (NYSE: AA) kicked off second quarter earnings season with better-than-expected results.

Data Tuesday revealed small-business optimism dropped in June after two months of gains.

In other news, the International Monetary Fund (IMF) cut its forecast for world economic growth forecast for a third time this year, citing slowing emerging markets such as China and Brazil, as well as the recession in the Eurozone.

The Dow Jones industrial average .DJI was up 75.65 points, or 0.50 percent, to end at 15,300.34. The Standard & Poor's 500 Index .SPX was up 11.86 points, or 0.72 percent, to close at 1,652.32. The Nasdaq Composite Index .IXIC was up 19.43 points, or 0.56 percent, to close at 3,504.26.