Investing.com – Wall Street traded flat on Tuesday, though the Dow hit yet another record high, as earnings continued to serve to support bullish sentiment in stocks.
At 11:31AM ET (15:31GMT), the Dow Jones gained 38 points, or 0.17%, the S&P 500 advanced 5 points, or 0.19%, while the Nasdaq Composite traded up 18 points, or 0.28%.
As of Tuesday, 437 of the S&P 500 companies had reported earnings for the second quarter period with 73% of firms having beaten consensus profit estimates.
Reactions to earnings on Tuesday were mixed with Michael Kors (NYSE:KORS) as the hands-down winner. Shares soared nearly 20% as the fashion accessories maker beat estimates and raised its full-year sales guidance.
The second largest advancer was Ralph Lauren (NYSE:RL) with gains of about 10% as the luxury apparel maker also beat on both the top and bottom line.
Among top decliners on the S&P post-earnings, CVS Health (NYSE:CVS) and Marriott International (NASDAQ:MAR) were both off around 1.5%.
After the close, attention will focus on Disney (NYSE:DIS) as the blue-chip entertainment giant reports its own results.
Priceline (NASDAQ:PCLN), TripAdvisor (NASDAQ:TRIP), Hertz Global (NYSE:HTZ), Monster Beverage (NASDAQ:MNST), Continental Resources (NYSE:CLR) and Zillow (NASDAQ:ZG) will also release earnings after the closing bell.
On the economic front, market players digested further positive news on the U.S. labor market as job openings skyrocketed to a record high in June, handily beating expectations.
Meanwhile, oil underwent choppy, volatile trade on Tuesday as market players looked ahead to the outcome of a meeting of officials from some OPEC and non-member nations in Abu Dhabi for fresh details on how the group can boost compliance with their output-cutting pact.
Investors also awaited weekly data from the American Petroleum Institute on stockpiles of crude and refined products, with a report due at 4:30PM ET (20:30GMT).
U.S. crude futures gained 0.20% to $49.48 by 11:33AM ET (15:33GMT), while Brent oil rose 0.21% to $52.48.