US Markets
U.S. stocks rose on Tuesday, lifting the Nasdaq Composite
into positive territory for the month, as investors considered corporate
earnings, an unexpected drop in orders for durable goods.
"So far most of the major earnings have beat expectations, and we have consumer confidence coming out, which is a key market driver," said Peter Cardillo, chief market economist at Rockwell Global Capital.
Twitter shares fell after the social network matched earnings estimates and beat on revenue forecasts, but offered user metrics that disappointed investors; Pfizer edged higher after the pharmaceutical company topped earnings and revenue expectations but narrowed its earnings forecast for the full year.
Read MoreEarly Movers: DD, PFE, AET, TWTR, MSG, WMT & more
Wall Street was also anticipating end of the Federal Reserve's latest round of bond buys, otherwise known as quantitative easing.
The Federal Open Market Committee starts a two-day session Tuesday, with Fed watchers expecting the Fed to remain on its tapering track by concluding its monthly bond purchases.
"We're awaiting tomorrow's FOMC announcement, not in what they're going to do, but in terms of what they'll say. I think they'll stress in a big way that if Europe, or the global economy, weakens further, they'll perhaps rethink QE," said Cardillo.
Orders for goods meant to last at least three years declined 1.3 percent in September.
A second report had U.S. single-family home prices rising in August on a year-over-year basis but still falling short of expectations.
"So far most of the major earnings have beat expectations, and we have consumer confidence coming out, which is a key market driver," said Peter Cardillo, chief market economist at Rockwell Global Capital.
Twitter shares fell after the social network matched earnings estimates and beat on revenue forecasts, but offered user metrics that disappointed investors; Pfizer edged higher after the pharmaceutical company topped earnings and revenue expectations but narrowed its earnings forecast for the full year.
Read MoreEarly Movers: DD, PFE, AET, TWTR, MSG, WMT & more
Wall Street was also anticipating end of the Federal Reserve's latest round of bond buys, otherwise known as quantitative easing.
The Federal Open Market Committee starts a two-day session Tuesday, with Fed watchers expecting the Fed to remain on its tapering track by concluding its monthly bond purchases.
"We're awaiting tomorrow's FOMC announcement, not in what they're going to do, but in terms of what they'll say. I think they'll stress in a big way that if Europe, or the global economy, weakens further, they'll perhaps rethink QE," said Cardillo.
Orders for goods meant to last at least three years declined 1.3 percent in September.
A second report had U.S. single-family home prices rising in August on a year-over-year basis but still falling short of expectations.
The Dow Jones Industrial Average climbed 49.57 points, or 0.3 percent, to 16,867.51, with Caterpillar leading blue-chip gains.
The S&P 500 rose 7.96 points, or 0.4 percent, to 1,969.59, with industrials the best performing of its 10 major sectors.
The Nasdaq added 27.88 points, or 0.6 percent, to 4,513.82.
For every share falling, roughly two gained on the New York Stock Exchange, where 73 million shares traded by 9:45 a.m. Eastern. Composite volume surpassed 267 million.
The S&P 500 rose 7.96 points, or 0.4 percent, to 1,969.59, with industrials the best performing of its 10 major sectors.
The Nasdaq added 27.88 points, or 0.6 percent, to 4,513.82.
For every share falling, roughly two gained on the New York Stock Exchange, where 73 million shares traded by 9:45 a.m. Eastern. Composite volume surpassed 267 million.
Brendan McDermid | Reuters
Traders work on the floor of the New York Stock Exchange.
The U.S. dollar declined against the currencies of major trading partners; the yield on the 10-year Treasury note used to figure mortgage rates gained a basis point to 2.277 percent.
Commodities were mixed, with crude-oil futures for December delivery falling 22 cents, or 0.3 percent, to $80.80 a barrel and gold futures for December rising a $1.10, or 0.1 percent, to $1,230.40 an ounce.
On Monday, U.S. stocks drifted little changed, after the market's best week of the year, as investors tracked the cost of crude as a proxy for the health of the global economy and sorted through quarterly earnings.
Commodities were mixed, with crude-oil futures for December delivery falling 22 cents, or 0.3 percent, to $80.80 a barrel and gold futures for December rising a $1.10, or 0.1 percent, to $1,230.40 an ounce.
On Monday, U.S. stocks drifted little changed, after the market's best week of the year, as investors tracked the cost of crude as a proxy for the health of the global economy and sorted through quarterly earnings.
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