U.S. stocks were predominantly higher in late Wednesday trading, with the S&P 500 on track to close at a record.
The S&P 500 index rose by four points, or 0.2%, to 1988, trading above its record closing high. It remained within striking distance of its intraday high of 1989.29.
The Dow Jones Industrial Average slipped 26 points, or 0.2%, to 17087.
The Nasdaq Composite Index gained 17 points, or 0.4%, to 4473. Apple Inc.AAPL -0.22% ‘s 2.9% gain helped boost the index, after the tech company beat forecasts for earnings but fell short of sales forecasts.
Surprisingly strong earnings reports have driven stocks’ recent push near record territory, after shares were roiled last week by escalating military tensions overseas. Companies in the S&P 500 are on pace to increase earnings 5.6% from the year before, according to FactSet. Analysts expected a rise of 4.9% before the unofficial start of reporting season.
The pace of sales growth has been especially comforting, strategists say, since those figures aren’t affected by cost-cutting or share buybacks. S&P 500 companies are on track to grow second-quarter sales by 3.1% from the previous year, according to FactSet, while analysts initially expected 2.7%.