NEW YORK (May 21, 2013)—Stocks closed higher Tuesday as investors banked on continued support from the Federal Reserve.
The Dow Jones industrial average rose 52 points to close at 15,387 Tuesday, an increase of 0.3 percent.
The Standard & Poor's 500 index rose three points to end the day at 1,669, or 0.2 percent higher.
The Nasdaq composite rise five to 3,502, or 0.2 percent.
Stock indexes wobbled between gains and losses in early trading, and then turned higher after James Bullard, head of the Federal Reserve's St. Louis branch, said the Fed should keep buying bonds to energize the economic recovery.
Home Depot rose 2.5 percent after reporting an 18 percent increase in income.
More stocks rose than fell on the New York Stock Exchange where volume was average at 3.5 billion shares.