Global stocks end higher
Stocks sold off late in the session to end with modest gains on Tuesday as Citigroup's steep drop in profit gave investors a reason to unload bank shares.
The Dow Jones industrial average was up 60.01 points, or 0.48 percent, to end at 12,482.07. The Standard & Poor's 500 Index was up 4.58 points, or 0.36 percent, to finish at 1,293.67. The Nasdaq Composite Index was up 17.41 points, or 0.64 percent, to close at 2,728.08.
The late-day selloff reflected a reversal in prevailing sentiment, when earlier optimism about the economy and China's growth prospects had driven the major US stock indexes up about 1 percent.
European shares hit a 5-1/2-month high before closing above a key resistance level, boosted by automobile and mining stocks after Chinese economic data raised hopes the country would further ease its monetary policy to stimulate growth.
The FTSEurofirst 300 index of top European shares finally managed to end above key technical level of 1,028 points, a bullish signal, after several failed attempts. It closed 0.9 percent higher at 1,034.40 points after climbing to 1,038.37, the highest since early August.
Japan's Nikkei average edged higher and recovered its footing after better-than-expected Chinese economic data and solid demand at a French treasury bill auction reassured investors in the wake of European debt downgrades.The benchmark gained 1.1 percent to 8,466.40, breaking above its 25-day moving average near 8,457, while the broader Topix added 0.9 percent to 731.53.
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