(NEW YORK) — Stocks charged higher Tuesday after some positive earnings reports. Housing data earlier in the day was somewhat worse than expected but did not worry the market much.
Persistent indications that there may be an extension of the debt ceiling and better-than-expected corporate earnings buoyed the markets.
The Dow closed up 62 points at 13,712.13, a new five-year high for the index. The Nasdaq added eight points to close at 3,143.18. The S&P gained seven points Tuesday, climbing to its longest win streak in nearly six weeks.
Google stock surged after the bell Tuesday. The search engine reported a $2.89 billion fourth-quarter profit, up over the same time last year. IBM and Johnson & Johnson’s Q4 numbers were up, too.
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John Newsome and Anne Woolsey, CNN