Stocks rose, as investors welcomed an upbeat start to corporate earnings season. Alcoa posted earnings after the bell Tuesday that were in line with forecasts, but sales were better than expected. Some analysts believe that Alcoa's results could be a barometer for the global economy. Also, analysts expect earnings for companies in the S&P 500 to grow 3.2% in the fourth quarter versus last year, banks and companies in the consumer discretionary sector are expected to lead earnings growth. Tech stocks edged higher, led by gains from LinkedIn and Facebook. Facebook rose 5.3% after the co. sent invitations to the media for an event at Facebook’s headquarters, sparking speculation of a major announcement. LinkedIn also jumped 2.2% after the professional networking site announced that it now has more than 200 million members. On the downside, Apple slipped 1.6% on a media report that the co. is reportedly developing a lower-end iPhone in a bid to gain a bigger share of the smartphone market.
