Summary Box: Earnings lift Dow to new 2011 high

AP News
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Posted: Apr 21, 2011 5:06 PM
Summary Box: Earnings lift Dow to new 2011 high

EARNINGS LIFT: Strong earnings from large companies like Apple Inc. and UnitedHealth lifted stocks broadly higher. Gains were spread across the market, with all 10 company groups that make up the S&P 500 index closing the day with gains.

TWO BLUE CHIPS SAG: McDonald's Corp. and General Electric Co. both fell 2 percent despite beating Wall Street expectations. McDonald's said that its costs may rise as much as 5 percent. General Electric said that the growth of its industrial businesses revenues are not keeping pace with rivals.

THE INDEXES: The Dow rose 52 points to close at 12,506. The S&P 500 rose 7 to 1,337. The Nasdaq rose 18 to 2,820.