US STOCKS-Wall St flat near 5-year highs, Travelers rallies

Tue Jan 22, 2013 10:11am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Insurer Travelers rises 3.4 percent after results, J&J edges lower

* Google, IBM and Texas Instruments to report late Tuesday

* Weak existing-home sales has little effect on market

* Indexes: Dow flat, S&P down 0.1 pct, Nasdaq down 0.1 pct

By Ryan Vlastelica

NEW YORK, Jan 22 (Reuters) - U.S. stocks were little changed near five-year highs on Tuesday as investors held back from making large bets ahead of earnings from key tech companies.

Both the Dow and S&P 500 closed at their highest levels so far in this earnings season, with the gains largely coming on better-than-expected results. But despite bullish statements from major companies, many investors are worried economic uncertainty in the fourth quarter hurt earnings and revenues.

Weaker-than-expected economic data had little impact on stocks. Existing-home sales unexpectedly fell in December, dropping 1 percent, according to the National Association of Realtors. Analysts were looking for a rise of 1.2 percent.

Recently Apple Inc and Intel Corp gave weak outlooks, calling the tech sector' outlook into question. Three tech companies are due to report after the market's close: Google Inc, International Business Machines and Texas Instruments.   Continued...