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Stocks turn higher on Wall Street, Caterpillar up

January 27, 2014

NEW YORK (AP) — Stocks are mostly higher on Wall Street as investors shrug off worries about emerging markets that tanked the market last week.

Industrial stocks rose the most after Caterpillar surprised investors with a surge in fourth-quarter earnings.

The Dow Jones industrial average rose 48 points, or 0.3 percent, to 15,926 in early trading Monday.

The Standard & Poor’s 500 index was up five points, or 0.3 percent, at 1,795. The Nasdaq composite edged down three points, or 0.07 percent, to 4,126.

Caterpillar jumped 6 percent after reporting income and revenue that were far ahead of what investors were expecting.

Apple reports its latest quarterly results after the market closes.

Asian markets slumped, and European markets were mostly lower.

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