The Wall Street closed mixed on Tuesday ahead of a new round of earning season and a key vote by Slovakia on expanding the euro zone rescue fund.
The result in Slovakia was crucial as the plan must be passed by all 17 members using the euro. All other 16 countries have passed it and Slovakia was the last to vote on expanding the powers of the European Financial Stability Facility (EFSF).
Some investors still felt bullish because German and French leaders said that they were working on a "durable" solution for Greece's debt load.
On earnings front, traders were looking forward to a new earnings season which was going to officially kick off on Tuesday when Alcoa reports its third-quarter results after the closing bell. The incoming earnings season was regarded to be especially important by some traders to decide whether the market is over- priced.
Alcoa was among the blue-chip Dow's best performers, gaining 2. 08 percent, to 10.30 dollars per share.
Most analysts predicted this round of earnings will be affected by a slow down U.S. economy.
"In general, S&P Capital IQ equity analysts believe their groups will be adversely impacted by a general slowdown in U.S. and global economic growth, yet supported by continued cost- cutting efforts, share repurchases and the year-over-year decline in the value of the U.S. dollar," Sam Stovall, chief equity strategist of S&P Capital IQ told Xinhua.
As for shares, technology and transportation sectors led the market on Tuesday, while financial shares fell as investors worried the banking institutions will be impacted by euro zone drama.
As of Tuesday's close, the Dow Jones industrial average dipped 16.88 points, or 0.15 percent, to 11,416.30. The Standard & Poor's 500 added 0.65 points, or 0.05 percent, to 1,195.54. The Nasdaq Composite Index gained 16.98 points, or 0.66 percent, to 2,583.03.
Crude prices rose on Tuesday for the fifth straight trading session although the Organization of Petroleum Producing Countries cut its forecasts for crude oil demand in 2011 and 2012.
In its latest oil market report, OPEC said that the crude oil demand was declining because of a weakening world economy. OPEC lowered its forecasts for oil demand in 2011 by 180,000 per day, and 100,000 barrels for 2012.
Light, sweet crude for November delivery rose 40 cents, or 0.47 percent to settle at 85.81 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for November delivery climbed 1.40 dollars, or 1.31 percent to close at 108.05 dollars a barrel.
The result in Slovakia was crucial as the plan must be passed by all 17 members using the euro. All other 16 countries have passed it and Slovakia was the last to vote on expanding the powers of the European Financial Stability Facility (EFSF).
Some investors still felt bullish because German and French leaders said that they were working on a "durable" solution for Greece's debt load.
On earnings front, traders were looking forward to a new earnings season which was going to officially kick off on Tuesday when Alcoa reports its third-quarter results after the closing bell. The incoming earnings season was regarded to be especially important by some traders to decide whether the market is over- priced.
Alcoa was among the blue-chip Dow's best performers, gaining 2. 08 percent, to 10.30 dollars per share.
Most analysts predicted this round of earnings will be affected by a slow down U.S. economy.
"In general, S&P Capital IQ equity analysts believe their groups will be adversely impacted by a general slowdown in U.S. and global economic growth, yet supported by continued cost- cutting efforts, share repurchases and the year-over-year decline in the value of the U.S. dollar," Sam Stovall, chief equity strategist of S&P Capital IQ told Xinhua.
As for shares, technology and transportation sectors led the market on Tuesday, while financial shares fell as investors worried the banking institutions will be impacted by euro zone drama.
As of Tuesday's close, the Dow Jones industrial average dipped 16.88 points, or 0.15 percent, to 11,416.30. The Standard & Poor's 500 added 0.65 points, or 0.05 percent, to 1,195.54. The Nasdaq Composite Index gained 16.98 points, or 0.66 percent, to 2,583.03.
Crude prices rose on Tuesday for the fifth straight trading session although the Organization of Petroleum Producing Countries cut its forecasts for crude oil demand in 2011 and 2012.
In its latest oil market report, OPEC said that the crude oil demand was declining because of a weakening world economy. OPEC lowered its forecasts for oil demand in 2011 by 180,000 per day, and 100,000 barrels for 2012.
Light, sweet crude for November delivery rose 40 cents, or 0.47 percent to settle at 85.81 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for November delivery climbed 1.40 dollars, or 1.31 percent to close at 108.05 dollars a barrel.
