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Wall Street rises for third day

NEW YORK (Reuters) - U.S. stocks rose for a third straight day on Tuesday, pushing the S&P above 1,400 for the first time since early May, on growing optimism the European Central Bank would act soon to contain the bloc's debt crisis.

The Dow Jones industrial average gained 50.71 points, or 0.39 percent, to 13,168.22, according to the latest data. The Standard & Poor's 500 Index gained 7.08 points, or 0.51 percent, to 1,401.31. The Nasdaq Composite Index gained 25.95 points, or 0.87 percent, to 3,015.86.

(Reporting By Edward Krudy; Editing by Kenneth Barry)