Technology, commodity stocks post gains

NEW YORK — Investors are finding more than one way to bet on an improving economy.

Stocks ended a quiet day mostly higher Tuesday as traders pushed money into commodity and technology stocks, encouraged by higher prices for oil and other commodities as well as an upbeat forecast from Texas Instruments Inc.

Financial shares were mixed as traders absorbed an announcement from the Treasury Department that it would allow 10 large banks repay $68 billion in federal bailout money. Those banks are among the 19 given money from a rescue fund created last October at the height of the financial crisis.

"It's part of the healing process for the banking industry," said Rob Lutts, chief investment officer at Cabot Money Management in Salem, Mass.

Many traders had already made their bets on which banks would be allowed to repay the bailout funds, leaving the market to turn its focus to improving commodities prices, which lifted basic materials and energy companies.

Oil settled at its first finish over $70 a barrel since November, helping to drive prices of metals like copper and aluminum higher.

The Nasdaq composite index lead the three major stock indicators with a gain of about 1 percent after Texas Instruments Inc. raised its profit forecast for the quarter. That stirred hopes that the semiconductor industry could see a rebound in demand.

According to preliminary calculations, the Dow Jones industrial average fell 1.43, or less than 0.1 percent, to 8,763.06. The broader S&P 500 index rose 3.29, or 0.4 percent, to 942.43, and the Nasdaq rose 17.73, or 1 percent, to 1,860.13.