U.S. indexes advance on strong earnings

NEW YORK — Global stocks steadied and U.S. markets advanced Tuesday, as investors were encouraged by strong results from UPS, Ford and other big companies.

The recovery comes after five straight days of losses for U.S. indexes. It’s not uncommon for stocks to reverse course after several days in one direction, and investors say the market is still lacking the foundation for an extended rally.

The Dow Jones industrial average rose 189.68 points, or 1.1 percent, to 17,630.27, ending near its high for the day. The Standard & Poor’s 500 index rose 25.61 points, or 1.2 percent, to 2,093.25 and the Nasdaq composite rose 49.43 points, or 1 percent, to 5,089.21.

Traders are turning their attention to the U.S. Federal Reserve as they try to assess when interest rates will rise. Fed policymakers started a two-day meeting on Tuesday, but few central bank watchers expect a rate hike.

The price of U.S. crude rose for the first time in five days on expectations that supply reports this week could show a decline. Brent crude, a benchmark for international oils used by many U.S. refineries, continued to fall, however. Benchmark U.S. crude rose 59 cents to close at $47.98 a barrel in New York. Brent fell 17 to close at $53.30 a barrel in London.

Wholesale gasoline fell 1.7 cents to close at $1.803 a gallon, heating oil rose 0.8 cents to close at $1.604 a gallon and natural gas rose 3.2 cents to close at $2.821 per 1,000 cubic feet.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.25 percent from 2.22 percent. The dollar rose to 123.58 Japanese yen from 123.27 yen on Monday. The euro fell to $1.1056 from $1.1087.

Precious and industrial metals futures ended mixed. Gold slipped 20 cents to $1,096.20 an ounce, silver rose four cents to $14.63 an ounce and copper gained five cents to $2.40 a pound.