Stocks turn positive after consumer data

By IBTimes Staff Reporter | January 26 2010 10:16 AM

Wall Street rebounded from initial declines and major stock indexes turned positive on Tuesday after data showed consumer confidence rose for the third consecutive month in January.

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* The Dow Jones industrial average <.DJI> gained 31.06 points, or 0.30 percent, to 10,227.92. The Standard & Poor's 500 Index <.SPX> gained 1.24 points, or 0.11 percent, to 1,098.02. The Nasdaq Composite Index <.IXIC> gained 0.93 points, or 0.04 percent, to 2,211.73.

* The Conference Board said its index of consumer confidence increased to 55.9 in January from an upwardly revised 53.6 in December, and topped forecasts of 53.5.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)