Stocks: Pushing toward record highs

July 23, 2013: 7:51 AM ET
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Quarterly corporate earnings have put investors in a positive mood.

While it's still early to draw any final conclusions, second-quarter results have come in better than most analysts had expected.

U.S. stock futures were higher Tuesday.

"The overall tone in the market is still very positive," said David Jones, chief market strategist at IG Markets in London. "Any weakness does not last very long."

U.S. stocks finished mostly flat Monday, though the S&P 500 gained 0.2%, squeaking past its record high by one point.

All three major U.S. indexes are up roughly 19% so far this year.

Earnings parade: UPS (UPS) reported earnings in line with its preliminary expectations. The packing and shipping company said volume in the U.S. and internationally grew, even as revenue came in slightly below forecasts.

Travelers (TRV) reported a boost in quarterly profit , citing "lower catastrophe losses."

DuPont (DD) reported earnings that beat forecasts but revenue fell short, which the company blamed on slipping chemical sales and economic headwinds in Europe and Asia.

Nearly 160 companies in the S&P 500 are slated to report quarterly results this week overall.

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Netflix (NFLX) shares sank after the streaming-video service added fewer subscribers than expected in the second quarter.

Texas Instruments (TXN) shares rose after the semiconductor maker reported quarterly earnings that came in ahead of expectations.

Apple (AAPL) and AT&T (T) are up after the close.

European markets edged up in midday trading, while Asian markets ended with gains. Hong Kong's Hang Seng index added 2.6%, the Shanghai Composite index 2%, and Tokyo's Nikkei 0.8%.

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Index Last Change % Change
Dow 17,342.80 -74.05 -0.43%
Nasdaq 4,690.30 6.89 0.15%
S&P 500 2,013.94 -7.31 -0.36%
Treasuries 1.68 -0.08 -4.34%
Data as of 12:32pm ET
Company Price Change % Change
Bank of America Corp... 15.31 -0.12 -0.75%
Apple Inc 119.37 0.47 0.39%
Microsoft Corp 41.13 -0.88 -2.09%
Facebook Inc 77.10 -0.90 -1.15%
General Electric Co 24.02 -0.06 -0.25%
Data as of 12:16pm ET

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