US stocks close higher after Europe rally

NEW YORK—US stocks followed European counterparts higher Tuesday buoyed by encouraging economic news from Germany and China, and a strong reading from a New York regional economic activity indicator.

But a poor earnings report from Citigroup spilled over to affect other bank shares and held back the bulls overall.

After jumping more than one percent in early trade, the Dow Jones Industrial Average pulled back to close up 60.16 points (0.48 percent) at 12,482.22.

The broad-based S&P 500 gained 4.57 points (0.35 percent) to 1,293.66, while the tech-rich Nasdaq Composite added 17.41 (0.64 percent) to 2,728.08.