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NEW YORK (CNNMoney)
The Dow Jones industrial average gained 0.3%, surpassing its record closing high. The S&P 500 rose another 0.1% after edging above its record high Monday. The Nasdaq was up nearly 0.1%.
"The overall tone in the market is still very positive," said David Jones, chief market strategist at IG Markets in London. "Any weakness does not last very long."
All three major U.S. indexes are up roughly 19% so far this year.
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Nearly 160 companies in the S&P 500 are slated to report quarterly results this week. So far, the bulk of the reports have matched or topped analysts' low expectations.
Earnings parade: UPS (UPS, Fortune 500) reported earnings in line with its preliminary expectations. The packing and shipping company said volume in the U.S. and internationally grew, even as revenue came in slightly below forecasts.
Travelers (TRV, Fortune 500) reported a boost in quarterly profit , citing "lower catastrophe losses."
DuPont (DD, Fortune 500) reported earnings that beat forecasts but revenue fell short, which the company blamed on slipping chemical sales and economic headwinds in Europe and Asia.
Texas Instruments (TXN, Fortune 500) shares rose after the semiconductor maker reported quarterly earnings that came in ahead of expectations.
Lockheed Martin (LMT, Fortune 500) said net income rose 10% in the second quarter, despite a 4% drop in revenue.
Wendy's (WEN) reported better-than-expected earnings and announced plans to sell 425 company-owned restaurants.
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Netflix (NFLX) shares sank after the streaming-video service added fewer subscribers than expected in the second quarter.
Apple (AAPL, Fortune 500) is expected to report a drop in quarterly profit after the market closes. AT&T (T, Fortune 500) will also release its results after the closing bell.
Meanwhile, Cisco (CSCO, Fortune 500) announced plans to buy cybersecurity company Sourcefire (FIRE) for $2.7 billion.
European markets edged up in midday trading, while Asian markets ended with gains.
First Published: July 23, 2013: 9:37 AM ET
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