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Home Depot helps lift the Dow; other indexes mixed

Traders work on the floor of the New York Stock Exchange Tuesday, Feb. 26, 2013. Strong earnings reports from Home Depot and Macy's helped lift stock indexes in early trading on Wall Street Tuesday. A jump in home sales and consumer confidence also brought buyers back to the market. (AP Photo/Richard Drew)

NEW YORK (AP) -- An earnings beat from Home Depot is helping to send the Dow Jones industrial average higher in midday trading, but other stock market indexes are mixed.

The Dow was up 59 points at 13,846 at midday Tuesday. IBM and other Dow stocks were also higher.

The Standard & Poor's 500 index was flat at 1,487 and the Nasdaq was down seven points at 3,108.

Home Depot jumped 5 percent after reporting that its income rose 32 percent in the latest quarter thanks to strong U.S. sales and the cleanup that followed Superstorm Sandy. Macy's also beat analysts' profit forecasts.

In testimony before Congress, Federal Reserve Chairman Ben Bernanke urged lawmakers and the White House to replace spending cuts due to start Friday with longer-term policies to reduce the budget deficit.