MARKET SNAPSHOT: Dow On Track For 7th Record As Tech Rallies

By Ellie Ismailidou and Sara Sjolin, MarketWatch

Microsoft, Morgan Stanley earnings beat forecasts; Halliburton reports losses

Stocks tipped higher Wednesday morning and the Dow industrials looked on track for its seventh straight record close, buoyed by corporate earnings that beat the market's lowered expectations.

Notably, Morgan Stanley(MS) and Microsoft Corp.(MSFT) released better-than-feared earnings ahead of the opening bell, boosting the broader benchmarks after disappointing quarterly results from Netflix Inc.(NFLX) on Tuesday led both the S&P 500 and the Nasdaq to finish lower.

On Wednesday, the S&P 500 index climbed 3 points, or 0.2% at 2,167, led by a 1.1% rise in technology stocks. Four out of the index's 10 sectors were in positive territory, with energy stocks leading the losses, down 1.1%, weighed by tumbling oil prices .

The Dow Jones Industrial Average rose 11 points, or less than 0.1% to 18,570, led by a 5.6% surge in Microsoft, which was contributing about 20 points to the Dow. The blue-chip gauge was weighed by a 1.7% drop in Walt Disney Co.(DIS).

Meanwhile, the Nasdaq Composite Index advanced 32 points, or 0.7%, to 5,069, hitting its highest level this year amid the broad tech rally.

(END) Dow Jones Newswires

July 20, 2016 10:12 ET (14:12 GMT)

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