NEW YORK -- The stock market had its third straight winning day on signs that companies are becoming more optimistic.
The Dow Jones industrial average edged up two points Tuesday but closed off its best levels. The Dow erased its losses for the year during trading but was down 22 points for 2010 by the close. Broader indexes pushed into the black for the year Monday and extended the gains Tuesday.
More merger activity and a plan by Qualcomm to buy back stock brought reassurance that business leaders expect the recovery to continue. The maker of wireless chips and other mobile technology also raised its dividend by 12 percent. The stock rose 6.7 percent.
Markets got a lift from upbeat economic reports abroad and growing hopes European leaders will complete a bailout for Greece.
There was other welcome news from overseas. Manufacturing exports in India rose for a third month in January, and new orders reached an 18-month high last month. Japan's unemployment rate dropped for the second straight month in January, and household spending grew.
Major stock indexes stand at their highest levels in more than a month, but the gains have come in light trading volume. That indicates many investors await more evidence about the economy.
The Dow rose 2.19, or less than 0.1 percent, to 10,405.98. It is up 85 points in three days. The broader Standard & Poor's 500 rose 2.60, or 0.2 percent, to 1,118.31, and the Nasdaq rose 7.22, or 0.3 percent, to 2,280.79.
Crude oil rose 98 cents to $79.68 per barrel on the New York Mercantile Exchange.
