国际英语新闻：Strong earnings reports push U.S. stocks higher

NEW YORK, Jan. 11 (Xinhua) -- The U.S. stocks snapped a 3-day losing streak to close higher on Tuesday as strong earnings reports helped inject confidence into the market.

Alcoa, the aluminum manufacturer which is traditionally the first component of the Dow Jones Industrial Average to report results, beat the market expectation on Monday by saying it had earned 21 cents a share in the fourth quarter of 2010, excluding one-time items, compared with 1 cent a share last year.

Meanwhile, Sears soared after the retailer posted an outlook that exceeded expectations as sales rose in several categories, including toys and sporting goods.

Luxury retailer Tiffany reported a huge jump in holiday sales, and used the 11-percent year-over-year gain as a reason to boost its full-year outlook for 2011.

Oil prices surged on Tuesday, giving momentum to some energy- related stocks. Consol Energy, which reported coal production rose 8.4 percent in the fourth quarter, rose nearly 4 percent on Tuesday.

Meanwhile, the U.S. Commerce Department said on Tuesday that wholesale inventories fell 0.2 percent to a seasonally adjusted 425.5 billion U.S. dollars.

Economists polled by Reuters had expected a 1-percent rise in inventories after an October increase that was revised downward slightly to 1.7 percent. It was the first fall in wholesale inventories since December 2009.