MARKET SNAPSHOT: U.S. Stocks Open Higher; S&P 500 At Record

By Anora Mahmudova and Barbara Kollmeyer, MarketWatch

NEW YORK (MarketWatch) -- The U.S. stock market opened slightly higher on Wednesday, as strong earnings from Boeing Co. and PepsiCo Inc. helped push the S&P 500 to record levels.

Investors showed little reaction earlier to news that two Ukrainian fighter jets were shot down Wednesday near where Malaysia Airlines Flight MH17 was downed.

The S&P 500 (SPX) opened 4 points, or 0.2%, higher at 1,987.52, setting an intraday record. The Dow Jones Industrial Average (DJI) dipped 11 points, or 0.1%, to 17,101.02.

The Nasdaq Composite (RIXF) began the session 14 points, or 0.3%, higher at 4,470.37.

Follow MarketWatch's live blog of today's stock-market action.

The data calendar is empty for Wednesday, leaving investors to fix their attention on corporate earnings. Boeing (BA) climbed 1.7% after the plane manufacturer lifted its core earnings-per-share outlook for 2014.

PepsiCo (PEP) picked up 2% after the company's second-quarter profit beat estimates and it lifted earnings guidance.

Delta Air Lines Inc. shares (DAL) climbed 2.2% after the company's second-quarter profit jumped 17%, driven by higher passenger and operating revenue.

Whirlpool Corp.(WHR) posted weaker-than-expected earnings, and shares slid 5%.

Investors also reacted to big tech earnings that came late Tuesday. Apple (AAPL) shares inched up after earnings that topped expectations. Also read: 5 reasons why Apple shares could rise another 16% this year.

Microsoft shares climbed 1.4% after an analyst's upgrade. The company late Tuesday reported a 7.1% fall in quarterly profit, disappointing Wall Street forecasters, as it took a financial hit from the purchase of Nokia Corp's (NOK) cellphone unit.

After the close, earnings from Facebook Inc. (FB) and AT&T Inc. (T) will be among the highlights. (Read more about the day's notable movers here: http://www.marketwatch.com/story/apple-intuitive-surgical-among-stocks-to-watch-2014-07-23.)

Among other markets, the Stoxx Europe 600 index edged up 0.2% Wednesday, while Asia also logged a mostly-higher finish.

Crude oil prices (CLU4) rose ahead of key supply data, while gold prices (GCU4) were flat. The dollar rose against the British pound (GBPUSD)(GBPUSD) after minutes from the Bank of England's July meeting showed all members voted to keep monetary policy loose.

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