U.S. stocks finished at their highest level in three years on Tuesday, as investors received a better-than-expected report on consumer confidence. In world markets, European stocks closed higher, led by the FTSE 100 in Britain rising 0.9 percent, while Asian markets ended the session lower, as the Nikkei in Japan fell 1.2 percent. In U.S. economic news, the Conference Board's consumer confidence index for April rose more than expected to 65.4 from 63.8 the previous month. In U.S. company news, Ford Motor Company reported its best first-quarter profit in 13 years, driven by strong sales in North America and demand for more fuel-efficient vehicles. Ford reported net profit of $2.55 billion, compared to profit of $2.09 billion a year earlier. Wall Street expected first-quarter profit of $2.1 billion. Revenue rose 18 percent to $33.1 billion. Meanwhile, Industrial and consumer-goods conglomerate 3M Company reported higher-than-expected quarterly profit, helped by sales to emerging markets, and it raised its full-year profit forecast. 3M posted net profits of $1.08 billion, compared with $930 million a year earlier. Sales rose 15 percent to $7.31 billion, beating Wall Street forecasts of $6.95 billion. United Parcel Service (UPS), the world's biggest package delivery company, raised its full-year profit forecast after first-quarter net profit jumped 66 percent. UPS' revised forecast of record profit suggested growth of 17 to 24 percent from 2010. The company posted profit of $885 million in the first quarter compared to $533 million a year earlier. Revenue rose 7 percent to $12.58 billion from $11.73 billion a year ago. In other company news, Coca-Cola Company reported that first-quarter net profit rose 18 percent as business overseas strengthened and sales of its soft drinks and juices rose in all regions of the world. The U.S. dollar fell versus the euro and the yen. Light sweet crude oil for June delivery fell 7 cents to $112.21 a barrel on the New York Mercantile Exchange. Gold futures fell $5.60 to $1,503.50 an ounce The Dow Jones industrial average rose 115.49, or 0.9 percent, to 12,595.37. The broader Standard & Poor's 500 index rose 11.99, or 0.9 percent, to 1,347.24. The technology-heavy Nasdaq composite index rose 21.66, or 0.8 percent, to 2,847.54.
