Stocks turn higher on Wall Street; Pfizer gains

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Associated Press

Posted on January 28, 2014 at 12:05 PM

Updated Tuesday, Jan 28 at 12:07 PM

NEW YORK (AP) — Stocks are mostly higher on Wall Street as the stock market turns positive after three days of losses.

Health care stocks rose Tuesday after the big drugmaker Pfizer turned in earnings that were higher than investors were expecting.

The Dow Jones industrial average rose 44 points, or 0.3 percent, to 15,881 at midday. The Standard & Poor's 500 index rose five points, or 0.3 percent, to 1,787.

The Nasdaq composite edged down four points, or 0.1 percent, to 4,079.

Technology stocks were held back by a decline in Apple, which slumped 8 percent after forecasting revenue that was less than the market was expecting.

The Federal Reserve starts two-day policy meeting Tuesday. Investors are waiting to see if the central bank makes further reductions to its big bond-buying program.

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