S&P, Dow flat after big banks' earnings

US stocks up - 13-07-17

Bank of America shares fell about 1%, while Citigroup edged up 0.2%.

Bank of America (BAC.N), Goldman Sachs (GS.N) and Morgan Stanley (MS.N) will report results next week.

Delta Air Lines fell 1.8 percent after reporting a 20.8 percent drop in second quarter earnings to $1.2 billion.

The S&P climbed 0.6 percent to close at 2,459.27, setting intraday and closing records. The Nasdaq Composite Index was up 13 points, or 0.2%, to 6,286.

Ten of the 11 major S&P sectors were higher, with defensive sectors such as real estate.SPLRCREC, utilities.SPLRCU and consumer staples.SPLRCS leading the advancers.

She said policymakers planned to raise interest rates to reach a neutral policy stance, but added that this point was not too far off.

The day's economic data had a mixed effect on trade, including a more slight-than-expected drop in weekly unemployment claims and a smaller-than-forecast increase in core producer prices for June.

Advancing issues outnumbered decliners on the NYSE by 1,943 to 774. (NYSE: HD), Microsoft Corp (NASDAQ: MSFT) and McDonald's Corp (NYSE: MCD) each rose at least 1.1%.

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