NEW YORK - Stocks are moving higher as investors balance positive news for homebuilders and insurers against worries about weak first-quarter earnings reports.

A $1.3 billion deal between Pulte Inc. and rival Centex Corp. is providing a glimmer of hope that the stricken homebuilding industry may be getting back on its feet.

And word that the government may soon extend a lifeline to troubled life insurers is lifting shares in those companies.

Investors are still anxious ahead of earnings reports coming out in the coming days and are worried that Alcoa Inc.'s bigger-than-expected loss signals more dismal results ahead.

At midday, the Dow Jones industrials are up 41 to 7,831. The Standard & Poor's 500 index is up 7 to 822, and the Nasdaq composite index is up 20 to 1,582.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

NEW YORK (AP) - Stocks turned mixed Wednesday as word of a buyout deal in the homebuilding industry wasn't enough to offset investors' worries about weak first-quarter earnings reports.

Before the market opened, Pulte Homes Inc. said it agreed to buy rival Centex Corp. for $1.3 billion in a stock deal that will create the nation's largest homebuilding company. The deal provided a glimmer of hope that the stricken homebuilding industry may be getting back on its feet.

But investors remain anxious ahead of more earnings reports in the coming days, worried that Alcoa Inc.'s disappointing report signals more dismal results to come.

After the bell Tuesday the aluminum giant said it lost nearly a half billion dollars in the first quarter - which was more than analysts had expected.

Worries about companies' first-quarter earnings reports, and their forecasts for the remainder of the year, have rattled the market this week, giving the major indexes back-to-back losses after four straight weeks of massive gains.

Another positive Wednesday was word that the government may soon extend a lifeline to certain troubled life insurers.

In early trading, the Dow Jones industrials rose 1.43, or 0.02 percent, to 7,790.99. The Standard & Poor's 500 index rose 0.99, or 0.1 percent, to 816.54, and the Nasdaq composite index rose 8.01, or 0.5 percent, to 1,569.62.

Market participants said the recent dip has created an attractive entry point for investors who don't want to miss out on a continued upswing.

"We're still in the midst of that rally," said Dave Rovelli, managing director of trading at brokerage Canaccord Adams. "These guys that run mutual funds, they can't miss the rally.