U.S. stocks up for third day on recovery optimism

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NEW YORK (MarketWatch) - U.S. stocks on Tuesday rose for a third day, with the S&P 500 index finishing above 1,400 and the Nasdaq Composite above 3,000 for the first time since early May. "This is starting to look like it might be a normal recovery, and investors are slowly starting to see it that way," said Hugh Johnson, chairman of Hugh Johnson Advisors. But with the S&P 500 up roughly 9% since June 1, "the market seems stronger than the forecast for the economy and earnings justify," said Johnson, who adds: "I think we'll keep going up, but with plenty of stops along the way." The Dow Jones Industrial Average DJIA +0.39%added 51.09 points, or 0.4%, to 13,168.60. The S&P 500 index SPX +0.51% rose 7.12 points, or 0.5%, to 1,401.35. The Nasdaq Composite COMP +0.87% advanced 25.95 points, or 0.9%, to 3,015.86.