Stocks Eke Out Gains as Energy, Banks Rise
Stocks finished in positive territory after wavering much of the afternoon as the dollar rose for a third day ahead of a meeting of G20 leaders that begins Thursday.

The Dow Jones Industrial Average rose 10.29 points, or 0.1 percent, to close at 11,357.04 after finishing lower in the previous session as concerns over European sovereign debt pushed the dollar higher against the euro.

Bank of America and Chevron led the blue chip index higher, while Boeing and Wal-Mart fell.

The S&P 500 rose 5.31 points, or 0.4 percent, to 1,218.71, while the Nasdaq rose 15.80 points, or 0.6 percent, to 2,578.78. The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell below 19.

Among key S&P sectors, financials, energy and consumerdiscretionary stocks rose, while utilities and consumer staples fell.

Investors were focused on how the G20 meeting in Seoul later this week will affect currency prices. Meanwhile, the dollar continued to rise against a basket of currencies as European debt troubles once again took center stage. Stocks have been moving inversely to the dollar.

The good news on the jobs front should have given more support to the market, said Tim Speiss, head of personal wealth advisors at at EisnerAmper, but he wasn't concerned about a shorterm downdraft interrupting the upward trajectory for stocks.

That's because large cap stocks are valued at less than 10 times earnings today versus 30 to 35 times earnings 10 years ago, Speiss said. And today, companies have cleaned up their balance sheets and are running much leaner and more efficiently, so they are poised to do well, particularly as the economy gains strength, he said.

"What valuations are now compared to 10 years ago portends that large cap equities will do very well," Speiss said.