Stocks break 3-day losing streak, Nasdaq jumps

Stocks broke a three-day losing streak and closed higher Tuesday as the Nasdaq composite index rebounded 0.8%.

The Dow Jones industrial average rose 10 points, or 0.1%, to 16,256, according to preliminary calcualtions. The Standard & Poors' 500 index gained 7 points, or 0.4%, to 1,852. The Nasdaq jumped 33 points to 4,113, as it snapped its worst three-session losing streak since late 2011.

Some big-name tech stocks that have been hammered in recent days rose, such as Amazon, Netflix, Facebook, E-Bay and Nokia -- all up 2% or more.

TECH STOCKS: They're bouncing back Tuesday

Stocks have had a volatile April. After closing at a record April 2, the market slumped as investors sold technology and biotechnology companies.

On Monday, stocks extended the previous week's losses. The Nasdaq got hit the hardest, extending its three-day decline, its worst since November 2011, to 6.4%.

MONDAY: Stock slump continues; Nasdaq tumbles 1.2%

Investors' nerves have been shaken by losses among market favorites like Amazon and Netflix, as everyone nervously anticipates a bear market's roar. Whether these fears will be calmed or amplified by upcoming corporate earnings reports and Wednesday's Fed minutes remains to be seen.

The unofficial start of the first-quarter 2014 earnings reporting season kicks off after the bell today when aluminum giant Alcoa reports.

"Traders are taking a wait-and-see approach ahead of first-quarter earnings season," says Karee Venema, an analyst at Schaeffer's Investment Research.

Due to a harsh winter that slowed commerce, Wall Street analysts have been lowering their profit estimates for S&P 500 companies. The current consensus is for profit growth of 1% in the January through March quarter, down from 2.2% on April 1 and 6.5% at the start of the year.

Wall Street will be listening closely to CEO guidance to get a sense of whether they expect business to pick up as the weather improves and turns warmer. The analysts have low! ered the bar substantially, which should make it easier for companies to top expectations, as well, which could prove bullish for stocks.

Asian stocks were mixed Tuesday. The Nikkei 225 dipped after Japan's central bank decided not to expand economic stimulus.

The Nikkei 225 ended down 1.4% to 14,606.88, the Hang Seng index closed up 1% to 22,596.97 and the Shanghai composite finished up 1.9% to 2,098.28.

Major European indexes also ended lower Tuesday. Britain's FTSE 100 was down 0.5%, Germany's DAX was off 0.2% and France's CAC-40 was down 0.25%.

Contributing: The Associated Press.