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News Summary: Stocks rise to record on earnings

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The Associated Press | July 18, 2013 05:10 PM EST | AP


ALL-TIME HIGH: The Standard & Poor's 500 index and the Dow Jones industrial average closed at all-time highs after encouraging news about the economy and strong earnings reports.

ECONOMY: Claims for unemployment benefits fell last week and the Federal Reserve Bank of Philadelphia said manufacturing in its region grew at the fastest pace in more than two years this month.

EARNINGS: Among companies reporting financial results, investment bank Morgan Stanley and UnitedHealth Group, the nation's largest health insurer, were among the standouts. Both companies surged after reporting earnings that beat analysts' forecasts.