U.S. stocks close up to 14,613.48

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U.S. stocks close up to 14,613.48
NEW YORK (MarketWatch) - U.S. stocks closed higher on Monday as investors looked to aluminium producer Alcoa Inc.'s results to start the earnings season. Equities spent part of the session in the red, but reversed course as a 'buy-the-dip' mentality took hold. "It's a foregone conclusion that Alcoa is going to disappoint," said Marc Chaikin, CEO of Chaikin Analytics, citing soft aluminum prices and downward pressure on margins. Convesely, Wall Street is primed to move higher should J.P. Morgan Chase & Co. report a positive earnings surprise Friday, something it has done the last eight quarters, said Chaikin, who added: "We're bullish on major banks." The Dow Jones Industrial Average added 48.23 points, or 0.3%, to 14,613.48. The S&P 500 index gained 9.79 points, or 0.6%, to 1,563.07. The Nasdaq Composite climbed 18.39 points, or 0.6%, to 3,222.25.

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