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Stocks Edge Higher in Early Trade      03/28 09:29

   U.S. stock indexes edged higher in morning trading Tuesday, recovering after 
an early slide. Investors weighed the latest batch of company earnings and 
economic news. Banks and other financials stocks led the gainers, while phone 
company stocks were down the most. Energy stocks rose as oil prices were headed 
higher.

   (AP) -- U.S. stock indexes edged higher in morning trading Tuesday, 
recovering after an early slide. Investors weighed the latest batch of company 
earnings and economic news. Banks and other financials stocks led the gainers, 
while phone company stocks were down the most. Energy stocks rose as oil prices 
were headed higher.

   KEEPING SCORE: The Dow Jones industrial average rose 38 points, or 0.2 
percent, to 20,589 as of 10:06 a.m. Eastern Time. The Standard & Poor's 500 
index added 3 points, or 0.2 percent, to 2,345. The Nasdaq composite index 
gained 4 points, or 0.1 percent, to 5,844. The Dow has fallen for eight days in 
a row, its longest losing streak in more than five years.

   TASTY RESULTS: Darden Restaurants jumped 7.5 percent after the owner of 
Olive Garden reported strong quarterly results and said it will buy the 
Cheddar's Scratch Kitchen chain for $780 million. Cheddar has 165 locations in 
28 states. Darden shares rose $5.56 to $81.14.

   STRONG QUARTER: Red Hat climbed 6.6 percent after the open-source software 
company reported strong sales and solid guidance for the current quarter. The 
stock added $5.17 to $87.37.

   SMOOTH SAILING: Carnival rose 1.1 percent after the cruise line operator 
served up solid first-quarter results and a better-than-expected estimate for 
the second quarter. The stock, which closed at an all-time high on Monday, 
gained 59 cents to $59.46.

   HOME PRICES: The Standard & Poor's CoreLogic Case-Shiller home price index 
showed that home prices rose at the fastest pace in more than two years in 
January. Mortgage rates are rising but that's not expected to affect home sales 
yet because hiring is still strong, rates are low and there aren't a lot of 
homes on the market.

   MARKETS OVERSEAS: In Europe, Germany's DAX was up 0.6 percent, while 
France's CAC 40 was flat. The FTSE 100 index of leading British shares was up 
0.1 percent. Investors, particularly in U.K.-related assets, will have more to 
chew on Wednesday when the British government finally triggers the two-year 
process by which it leaves the European Union. In Asia, Tokyo's Nikkei 225 
gained 1.1 percent. Hong Kong's Hang Seng added 0.5 percent. Seoul's Kospi rose 
0.3 percent.

   ENERGY: Benchmark U.S. crude rose 50 cents, or 1.1 percent, at $48.24 per 
barrel in New York. Brent crude, used to price international oils, climbed 52 
cents, or 1 percent, to $51.42 a barrel in London.

   CURRENCIES: The euro fell to $1.0862 from $1.0868, while the dollar fell to 
110.42 yen from 110.57 yen.

   TREASURY YIELDS: Bond prices edged higher. The 10-year Treasury yield fell 
to 2.37 percent from 2.38 percent.


(KA)

 
 
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