Dow rises 133 points on better-than-expected earnings

Amazon rose more than 2% extending gains from last week when data showed US holiday spending surged to 12-year high prompting price target hikes

Morgan Stanley wrapped up earnings season for the big US banks with a better-than-expected quarterly profit, driving modest gains in its shares. The S&P 600 Index closed at 968.88 for a gain of 8.76 points or 0.91%.

The Standard & Poor's 500 index fell 4.53 points, or 0.2 percent, to 2,798.03.

Investors kept an eye on the latest company earnings news while also monitoring developments in Washington ahead of a possible federal government shutdown this weekend.

Stocks closed broadly higher Wednesday, sending the Dow Jones industrial average to its first close above 26,000 points.

The S&P 500 posted 84 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 120 new highs and 22 new lows. Microsoft rose 2 percent. The Nasdaq gained 74 points to 7,298.

Wall Street's main indexes rose on Wednesday as investors' expectations for higher earnings lifted stocks across sectors.

Democrats flip state Senate seat in upset
Walker's remarks about Schachtner's win and the fact that Republicans are passing up opportunities to run in political races. The party made many of its biggest improvements over the 2016 presidential in districts Trump won in the South and Midwest.

In small-caps, the Russell 2000 Index closed at 1,586.36 for a gain of 13.39 points or 0.85%.

Alcoa tumbled 7.5 percent after the aluminum producer's earnings missed analysts' estimates.

Laszlo Birinyi, longtime strategist and founder of Birinyi Associates, said earlier Tuesday that he sees clear signs the market is going into a period of consolidation, and he is now not setting a target for the S&P 500, after it crossed his last one at 2,760.

Republicans are seeking to pass a temporary extension in funding government operations to avert a shutdown. Only the 1991-92 winning stretch saw the stock market gain 1% in the month following the end of that winning run.

European bourses opened lower, mirroring moves in Asia and Wall Street overnight, as earnings updates from companies weighed. Wyndham gained $5.60, or 4.8 percent, to $122.73. It was the Dow's biggest intraday swing since December 1. Copper rose 1 cent to $3.20 a pound.

Industrial stocks rose after the Federal Reserve said USA industrial production increased 0.9 percent in December.

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