(By Salman - iStockAnalyst Writer)US stocks rallied on Tuesday as a weak dollar pushed up commodity prices, lifting shares of oil and mining companies.
The Dow Jones Industrial Average rose 131.50 points or 1.37% to finish at 9,731.25. The S&P 500 advanced 14.26 points or 1.37% to end at 1,054.72. The Nasdaq Composite climbed 35.42 points or 1.71% to 2,103.57.
Shares of Alcoa Inc. (NYSE:
AA), the largest US aluminum maker, jumped 46 cents or 3.43% to $13.88.
Intel Corp. (NASDAQ:
INTC) soared 53 cents or 2.77% to $19.63. Hewlett-Packard (NYSE:
HPQ) soared 96 cents or 2.08% to $47.03.
Shares of drugmakers rallied. Merck & Co. Inc. (NYSE:
MRK) climbed 73 cents or 2.30% to $32.50. Pfizer Inc. (NYSE:
PFE) increased 38 cents or 2.32% to $16.78.
Among financials, shares of JP Morgan & Chase & Co. (NYSE:
JPM) gained 1.12 or 2.56% to 44.92.
Energy stocks finished with gains. Exxon Mobil (NYSE:
XOM) rose $1.08 or 1.60% to $68.66. Chevron Corp. (NYSE:
CVX) increased $1.17 or 1.69% to $70.56.
Shares of airplane maker Boeing Co. (NYSE:
BA) fell 2 cents or 0.04% to $52.26 after it announced another delay to its new 747-8 Freighter and said that will take a $1 billion charge against its third-quarter earnings to cover "increased production costs and the difficult market conditions affecting its 747-8 program."
Early on Tuesday, Pepsi Bottling Group Inc. (NYSE:
PBG) reported that its fiscal third-quarter net income rose to $254 million, or $1.14 a share, from $231 million, or $1.06 a share, in the prior year period. On an adjusted basis the company earned $1.06 a share. Revenue slipped to $3.6 billion from $3.8 billion last year. For the full fiscal year, Pepsi Bottling projected earnings in the high range of its $2.30 to $2.40 a share forecast.
