Wall Street closes higher on mixed earnings

US stocks gain as uneven earnings provide uncertain view of economic growth, US housing data disappoints investors.

United States stocks have closed higher after a series of mediocre earnings report limited buying enthusiasm.

At the closing bell on Monday, the Dow Jones Industrial Average eked out a 1.73 (0.01%) gain at 15,545.47.

The broad-based S&P 500 rose 3.41 (0.20%) to 1,695.50.

The tech-rich Nasdaq Composite Index added 12.77 (0.36) at 3,600.39, regaining a bit of ground it lost after Friday's sell-off in tech shares.

Despite the tepid trading, the modest gains allowed the S&P to set a fresh closing record, building on Friday's record high.

Investors were unimpressed by the most recent batch of earnings reports Monday. The group included Dow member McDonald's, which became the latest giant equity to disappoint after last week's unimpressive results from Coca-Cola, Google and Microsoft.

Separately, fresh data showed that sales of existing homes in the US in June slipped, falling short of analyst expectations.

"The results have been a little bit of a problem for the market," said Mace Blicksilver, director of Marblehead Asset Management.

"The market needs fresh news to go higher and lately all the big earnings news has been kind of negative."

Related Articles