Solid earnings drive more gains in US stocks

Corporate earnings gains drive US stocks higher; Comcast, Lockheed and Chipotle rise

7/22/2014

NEW YORK — 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 today. 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.