Stocks Gain with Alcoa Results on Tap

U.S. stocks gained for a third session on Monday as Wall Street looked to the second-quarter earnings season. The Dow Jones Industrial Average added 88.85 points, or 0.59%, at 15,224.69. The S&P 500 index climbed 8.57 points, or 0.53%, to 1,640.46. The Nasdaq Composite added 5.45 points, or 0.16%, to 3,484.83.

Alcoa Inc. (NYSE:AA) posted a loss of $119 million, or 11 cents a share, compared with a $2 million loss, or break- even a share, in the year ago period. Revenue decreased to $5.85 billion from $5.96 billion in the year-ago period.

U.S. consumer credit surged in May on a surprise increase in credit-card use. U.S. consumers increased their debt by a seasonally adjusted $19.6 billion in May, up from a $10.9 billion gain in April, the Federal Reserve said.

Shareholders in Clearwire Corp (CLWR) voted on Monday to approve majority owner Sprint Nextel Corp’s (NYS:S) buyout of the rest of the company, ending a six-month battle for control of the small U.S. wireless operator.

A civil liberties group is taking the unusual step of asking the Supreme Court to review a ruling by a secretive intelligence court that authorized government access to millions of Verizon Communications Inc (VZ) phone call records.

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