NEW YORK: US stocks rose on Tuesday with the S&P 500 hitting another record high as positive earnings updates from a slew of companies including Dow components 3M and Johnson & Johnson supported sentiment.
Johnson & Johnson rose 3.6% after the drugmaker forecast 2021 profit above estimates and promised data from its widely watched coronavirus vaccine trial soon.
3M Co, which makes N95 face masks and Post-it notes, added 2.5% after it reported a better-than expected quarterly profit.
Tech heavyweight Microsoft Corp edged 0.7% higher, while Advanced Micro Devices Inc dipped 0.2%. Both the companies are expected to report earnings after markets close.
At 09:53 a.m. ET the Dow Jones Industrial Average rose 94.45 points, or 0.31%, to 31,054.45, the S&P 500 gained 2.68 points, or 0.07%, to 3,858.04, and the Nasdaq Composite gained 0.17 points, or 0.01%, to 13,636.17.
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