By Sara Lepro
Associated Press
NEW YORK — Stocks are moving higher as investors balance positive news for homebuilders and insurers against worries about weak first-quarter earnings reports.
A $1.3 billion deal between Pulte Inc. and rival Centex Corp. is providing a glimmer of hope that the stricken homebuilding industry may be getting back on its feet.
And word that the government may soon extend a lifeline to troubled life insurers is lifting shares in those companies.
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Investors are still anxious ahead of earnings reports coming out in the coming days and are worried that Alcoa Inc.’s bigger-than-expected loss signals more dismal results ahead.
At midday, the Dow Jones industrials are up 41 to 7,831. The Standard & Poor’s 500 index is up 7 to 822, and the Nasdaq composite index is up 20 to 1,582.
