NEW YORK - Stocks rose, boosted by a spate of earnings reports that exceeded expectations. The Dow Jones industrial average rose 38.31 to close at 11,186.41. Dow gains 38
The Standard & Poor's 500 index gained 11.45 to end at 1,409.62, and the Nasdaq composite index climbed 21.24 to 2,839.37, both record closes.
Advancers led decliners by a 5-to-3 margin on the New York Stock Exchange, with 1,825 up, 1,053 down and 634 unchanged. NYSE volume was 801.59 million, up from 751.58 million yesterday.
The NYSE composite index rose 5.85 to 660.75; the American Stock Exchange composite climbed 8.73 to 821.73; and the Russell 2000 index rose 4.34 to 465.80.
"Earnings have been very favorable for stocks and they should continue to be," said Guy Truicko, who helps oversee $1 billion for Unity Management Inc. in New York. He bought Boeing Co. shares today after the company reported surprisingly strong profits.
And Coca-Cola Co. rallied as investors bet the worst is over for the world's biggest beverage company. Coke advanced $2.121/2 to $63.94 after Chairman Douglas Ivester said business may pick up over the next year as the world's economies turn around.
Stocks also benefited from a government report that showed consumer prices were unchanged in June, suggesting that the Federal Reserve can forgo another interest-rate increase this summer.
The 30-year Treasury bond rose 3/32, or 94 cents per $1,000 face amount to a price of 90 7/8, leaving its yield at 5.92 percent. Yields on two-year notes, the most traded Treasuries, fell 2 basis points to 5.51 percent.