NEW YORK (AP) — The Standard & Poor’s 500 index edged up to another record close Monday as investors assessed the latest earnings from big U.S. companies.The S&P 500 index rose 2.34 points, or 0.1%, to close at a record 1,762.11. The Dow Jones industrial average fell 1.35 point to 15,568.93 and the Nasdaq composite index dropped 3.23 points, or 0.1%, to 3,940.13. The S&P ended at a record high last week after climbing for a third straight week. Stocks have surged this year, in part because companies have been able to keep increasing their earnings even as the economy has failed to escape stall speed.Third-quarter earnings are expected to rise by about 4.5% at S&P 500 companies, according to data from S&P Capital IQ. While that is the slowest rate of growth in a year, companies are still beating the estimates of Wall Street analysts. About two-thirds of the companies that have published third-quarter earnings so far have exceeded analysts’ expectations. EARNINGS: Corporate profit powers ahead again in Q3 STOCKS: This 2013 market rally is a wide team effort”Earnings are beating a low bar,” said Russ Koesterich, chief investment strategist at Blackrock. “You have an economy that’s not producing… Read full this story
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