RTRS: US STOCKS-Wall St rises on stimulus plan hopes; tech leads
* Tech shares rise on bets for infrastructure spending
* Apple slips after uneventful Macworld
* Alcoa falls after-the-bell; sets job, production cuts
* Dow up 0.7 pct, S&P up 0.8, Nasdaq up 1.5 pct
* For up to the minute market news, click [STXNEWS/US] (Adds Alcoa after-the-bell, context to Dow)
By Chuck Mikolajczak
NEW YORK, Jan 6 (Reuters) - U.S. stocks gained on Tuesday on the increased likelihood of a government stimulus package after the release of minutes from the last Federal Reserve policy meeting painted a dismal picture of the U.S economy.
Investors bet technology stocks would benefit from President-elect Barack Obama's proposed economic plan that would include the largest U.S. infrastructure investment since the 1950s.
Microsoft (MSFT.O) added 1.2 percent to $20.76 after the software maker said it sold 28 million units worldwide of its Xbox 360 video game console through the end of 2008, extending the Xbox's lead over rival Sony Corp's (6758.T)(SNE.N) PlayStation 3. [ID:nN05400786].
The U.S. Federal Reserve, in minutes from its Dec. 15-16 meeting, warned of uncomfortably low levels of inflation and said the economic outlook will be weak for some time. For details, see [ID:nnN06439238]
"There is a little bit of a honeymoon period with the ushering in of the new calendar year, people are anticipating bold initiatives in the stimulus package," said Todd Clark, managing director of stock trading at Nollenberger Capital Partners in San Francisco.
"It seems like there is some willingness to take risks again."
The Dow Jones industrial average .DJI was up 62.21 points, or 0.69 percent, to 9,015.10. The Standard & Poor's 500 Index .SPX gained 7.25 points, or 0.78 percent, to 934.70. The Nasdaq Composite Index .IXIC added 24.35 points, or 1.50 percent, to 1,652.38.
The Dow has risen six of the last eight trading sessions and is down 28 percent from one year ago.
Retailers rose ahead of closely monitored same-store sales figures -- an industry benchmark -- later in the week after the latest report on U.S. chain stores provided a small sign of relief. After a dismal holiday shopping season, the data showed sales rose 1.4 percent last week over the prior period and fell less than the same week a year earlier. The S&P retail index .RLX rose 2.3 percent.
Materials and mining companies were among the top advancers on Tuesday as a global commodities benchmark .CRB settled at its highest level since Nov. 28, helped in part by a rally in precious and base metals, soft commodities and some energy futures.
