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Solid earnings drive more gains in US stocks

Wednesday - 7/23/2014, 1:52am  ET

FILE - This March 4, 2013 file photo shows a sign for Wall Street on the side of building near the New York Stock Exchange, in New York. U.S. stock futures pointed higher early Tuesday, July 22, 2014, as more corporate earnings rolled in. Shares in the restaurant chain Chipotle and the cable company Comcast surged after they reported results that were better than Wall Street expected. (AP Photo/Mark Lennihan, File)

NEW YORK (AP) -- U.S. stocks are closing higher as more companies turn in solid earnings.

Lockheed Martin rose 3 percent after the defense contractor's profit and revenue beat analysts' forecasts.

Comcast rose 2 percent after reporting higher profit than the market was expecting. The giant cable TV company signed up more subscribers for Internet service.

The Standard & Poor's 500 index rose nine points, or 0.5 percent, to close at 1,983 Tuesday. That's two points below the record close the index reached on July 3.

The Dow Jones industrial average gained 61 points, or 0.4 percent, to 17,113. The Nasdaq composite rose 31 points, or 0.7 percent, to 4,456.

Bond prices were flat. The yield on the 10-year Treasury note held steady at 2.47 percent.


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