The Dow Jones Industrial Average scores its seventh straight daily gain, as U.S. stocks seemed to shrug off another interest rate hike by the central bank of China.
The Dow notched a seventh straight day of gains on Tuesday, but light volume suggested that investors don't believe the more than five-month rally has the legs to keep going.
The Dow closed its seventh straight day of gains on Tuesday after McDonald's surprisingly strong sales drove confidence in the economic recovery.
Corrects to show McDonald's posted sales, not earnings in first paragraph
The Dow rose on Tuesday after blue-chip component McDonald's posted stronger-than-expected restaurant sales, but the S&P 500 and Nasdaq were little changed after China raised interest rates.
Wall Street rose modestly on Tuesday, led by gains in the consumer discretionary sector after McDonald's posted global sales that were above Wall Street's estimates.
Avon Products Inc
posted a steeper-than-expected drop in quarterly profit, hurt by weak sales and restructuring charges, and shares of the world's largest direct seller of cosmetics fell more than 4 percent.The rival Koreas held their first talks since a deadly attack on a South Korean island last year amid signs of a thaw in tensions as momentum builds for a resumption of aid-for-disarmament negotiations.
Gold rose more than 1 percent on Tuesday to $1,367.60 an ounce as traders covering short positions in the New York futures market pushed spot prices through key resistance at the metal's 100-day moving average.
China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle in the fast-expanding economy against stubbornly high inflation that threatens to unsettle global markets.
Thai and Cambodian troops stood on high alert on Tuesday after clashing in disputed jungle around a 11th-century Hindu temple as foreign governments urged them to lay down arms.
China raised interest rates on Tuesday for the second time in just over six weeks, intensifying a battle against stubbornly high inflation that threatens to unsettle global markets.
Australia's Sundance Resources wants Chinese companies to build a railway line and port in Cameroon vital to its Mbalam iron ore export venture, a senior executive said on Tuesday.
An 11 billion rand South African manganese building project, which includes a mine and smelter, was on track with first processed ore expected in July next year, investors said on Tuesday.
ArcelorMittal , the world's largest steelmaker, forecast a faster than expected rebound in demand and prices at the start of 2011 after suffering a margin squeeze at the end of last year.
Wall Street rose modestly on Tuesday, led by gains in the consumer discretionary sector after McDonald's posted earnings above Wall Street's estimates.
McDonald's Corp reported a stronger-than-expected sales rebound in January in Europe, its biggest market for revenue, sending its shares up 3 percent in midday trading.
World stocks and oil prices ebbed from recent highs on Tuesday after China raised interest rates for the second time in just over a month, spurring worries of the hike's impact on global economic demand.
Nationalising South Africa's mines is not the option, mines minister Susan Shabangu said on Tuesday in her strongest comments in a year against an idea that has unnerved investors in Africa's biggest economy.
Governments in the Asia-Pacific region face the risk of unprecedented numbers of people displaced by floods, storms and other impacts of climate change, the Asian Development Bank (ADB) said in a report on Monday.
Wheat output in China, the world's largest producer and consumer of the grain, may be at risk after severe winter drought in its main northern producing regions, the United Nation's Food and Agriculture Organisation said.
Wall Street was little changed on Tuesday as an interest hike by China weighed on energy shares and major indexes faced resistance near 2 1/2-year highs.
