U.S. stocks rebound on Tuesday as Chinese inflation slows

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Source: Dukascopy Bank SA
Wall Street finished green on Tuesday, sending higher the Standard & Poor's Index for the first back-to-back rally in almost one month, as investors cheered the earnings season kicking off, and Chinese inflation slowed. The S&P 500 Index climbed 0.4% to 1,568.61. Seven out of ten groups in the benchmark gauge edged higher. First Solar jumped 46% for the biggest advance on the index to close at $39.35, as the maker of solar panels estimated 2013 sales and profits that beat the analyst forecasts. Its project Desert Sunlight in California is starting to bolster the sales revenue. Furthermore, Cliffs Natural Resources and United States Steel Corporation paced gains in basic materials group that posted biggest rally among all ten groups, as the mining company and steel producer soared 8.8% and 4.4%, respectively. Meanwhile, J.C. Penney declined 12.2% to its lowest level in almost 12 years after a dismal for Johnson's work in his first year as the company's CEO.

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