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The U.S. stock market closed slightly higher on Tuesday, with the S&P 500 index approaching record highs, after a number of companies reported mostly positive results, but declines in health care Stocks Limited gains.
All three indexes closed higher, with the S& P 500 less than 1% from its record high set in September.
Bank of America (BAC.N), Johnson & Johnson (JNJ.N), BlackRock (BLK.N), United Health Group UHN.N and others reported better quarterly results than analysts expected.
But the share prices of these companies rose and fell after the results were released.
"Performance and drivers are different," says John Lynch, chief investment strategist at LPL Financial. "We get mixed information from financial and medical companies."
Analysts now expect first-quarter earnings of S& P 500 companies to fall by 1.8% from a year earlier as the earnings season unfolds in full, according to Lufford data. Despite a significant improvement over recent expectations, this will be the first decline in earnings since 2016.
Of the 42 S& P 500 index companies that have published results so far, 81% have outperformed market expectations, while the average has exceeded market expectations since 1994 by 65%.
Johnson & Johnson's performance was higher than analysts expected, mainly thanks to sales growth in its pharmaceutical sector, which pushed the stock up 1.1%.
But the United Health Group (UNH.N) plunged 4%, the biggest drag on the Dow and likely to be affected by regulatory concerns. The company today announced better-than-expected first-quarter earnings and raised its earnings forecast for 2019.


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