Wall Street edges up, rebounding from worst-ever start to a year

January 11, 2016 10:32 AM

Overall, fourth-quarter corporate earnings are expected to decline 4.2%, according to Thomson Reuters I/B/E/S.

Alcoa is scheduled to report fourth-quarter results after the close, starting the earnings season. The stock was up 1.4% at $8.17.

Apple's shares were up 1.6% at $98.48, providing the biggest boost to the S&P 500 and Nasdaq.

The company's music streaming service hit the 10 million-subscriber mark in six months, the Financial Times reported. Mizuho upgraded the stock to "buy".

Macy's was up 4.4% at $37.48 after hedge fund Starboard Value urged the department store chain to enter into joint ventures for its stores.

Under Armour was down 4.7% to $71.47 after Morgan Stanley cut its rating and price target on the stock.

Advancing issues outnumbered decliners on the NYSE by 1,825 to 820. On the Nasdaq, 1,463 issues rose and 772 fell.

The S&P 500 index showed one new 52-week high and 17 new lows, while the Nasdaq recorded seven new highs and 73 new lows.

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Abhiram Nandakumar, Reuters