By The Associated Press
NEW YORK – Stocks ended a choppy day Monday with a moderate rebound. Analysts said the advance was due in part to investors’ regaining their optimism about earnings. But that change was fleeting: After the market closed, IBM reported revenue that fell short of expectations, and investors were back to selling in after-hours trading.
IBM Corp. did issue a more upbeat forecast for its 2010 earnings that in the past would have lifted stocks. But with investors increasingly on edge about signs of trouble in the economy, many decided not to share in IBM’s more confident view of the future.
The Dow rose 56.53, or 0.6 percent, to 10,154.43. The Standard amp& Poor’s 500 index rose 6.37, or 0.6 percent, to 1,071.25, while the Nasdaq composite index, lifted by a rally in tech stocks, rose 19.18, or 0.9 percent, to 2,198.23.