AAP, with a staff reporter
United States stocks are mixed but mostly higher after several leading companies bested earnings estimates and as investors welcomed news that China may enact new economic stimulus policies.
The Dow Jones Industrial Average rose 42.69 points, or 0.27 per cent, to 15,588.24 points.
The broad-based S&P 500 was flat, up 0.67 points, or 0.04 per cent, to 1,696.20 points.
The tech-rich Nasdaq Composite Index slipped 3.78 points, or 0.11 per cent, to 3,596.60 points.
Several leading companies, including Dow components DuPont, United Technologies and Travellers, reported profits that exceeded analyst expectations, even if revenues in some cases lagged forecasts.
Global markets were also cheered after Chinese state media quoted Chinese Premier Li Keqiang as saying economic growth must stay above the "bottom line" of seven per cent. Analysts saw the remarks as implying more economic stimulus was forthcoming.
Concerns about a Chinese economic slowdown have crimped investor sentiment worldwide. Several leading European and Asian stock indices rose following Li's remarks.
Source: http://www.businessspectator.com.au/news/2013/7/24/financial-markets/wall-street-mixed-data-china
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