Stocks Finished Higher after Alcoa Reports Earnings

U.S. stocks ended modestly higher on Wednesday after aluminum producer Alcoa Inc. gave an upbeat forecast for 2013. The Dow Jones Industrial Average rose 61.66 points, or 0.46%, to 13,390.51. The S&P 500 index added 3.87 points, or 0.27%, to 1,461.02. The Nasdaq Composite climbed 14.00 points, or 0.45%, to 3,105.81.

White House chief of staff Jack Lew is President Barack Obama’s expected pick to lead the Treasury Department, with an announcement possible before the end of the week, as the administration moves to fill the most critical jobs in the Cabinet.

American International Group Inc., the insurance giant rescued from collapse by taxpayers at the height of the financial crisis in September 2008, refused on Wednesday to join a lawsuit against the U.S. government filed by its former CEO Hank Greenberg.

The fight over nutritional supplements company Herbalife Ltd gained intensity and drama on Wednesday as hedge fund titans Daniel Loeb and William Ackman are now squaring off.

Boeing Co rolled out the Dreamliner’s chief engineer to try to quell concerns about the new jet following three mishaps in as many days, including an electrical fire that caused severe damage to a plane.