Stocks finished higher Tuesday. The Dow climbed 172 points to 25,411 while the S&P 500 added 12 points to 2,737. The Nasdaq Composite rose 54 points to 7,402.
The major averages extended gains as investors digested the latest corporate earnings updates. On the data front, a survey from ISM revealed service sector activity cooled to a reading of 56.7 in January, below the upwardly revised 58.0 figure from December. Market participants were also focused on the political landscape ahead of President Trump delivering his State of the Union address this evening.
Eight of 11 S&P 500 sectors ended in positive territory with Consumer Discretionary shares pacing gains. The Communications Services group also outperformed with Electronic Arts adding 4.6% to $92.52. In earnings, Estee Lauder jumped 11.6% to $152.02 after the personal care product company raised its forward guidance as sales in Asia surged. BP added 3.5% to $42.82 as the British energy giant doubled fourth quarter profits from the same period last year. Gilead Sciences was a notable decliner, falling 3.4% to $67.68, after the biotech company posted quarterly results short of Wall Street profit projections due to higher expense levels.
Breadth was positive on issues by 2:1 on the NYSE and even on the NASDAQ. Composite NYSE Volume was more than 3.5 billion shares.
Treasuries strengthened with the yield on the benchmark 10-year note falling two basis points to 2.70%. In commodities, WTI crude is losing 1.6% to $53.67/barrel. COMEX gold finished flat at $1,314.20/ounce amid a stronger dollar.