Encouraged by Alcoa, the NYSE opens up

The New York Stock Exchange opened higher on Tuesday, supported by better than expected results released Monday evening by Alcoa.

A few minutes after opening, the Dow Jones industrial average thirty largest U.S. took 1.09% to 10,327.29 points, the S & P 500 index fund manager, gained 1.15% at 1091.15 and the Nasdaq, heavily weighted to technology, advanced 1.17% to 2225.89.

Alcoa, the first value referenced in the Dow, accounts for 2.21% at the opening after reporting late Monday results exceeded expectations under its second quarter, prompting investors to hope that other heavyweights the economy in their turn to share optimistic news.

The railroad company CSX also pleasantly surprised markets Monday and its shares gained 1.43% in early trade.

The avalanche of results which will soon go off just in time for investors who were reluctant in recent weeks on how to proceed.

"The problem in markets is that there was a lack of visibility and now we have," said Wayne Kaufman, John Thomas Financial in New York.

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