US STOCKS-Dow, S&P 500 edge higher as earnings eyed

Tue Jan 22, 2013 12:31pm EST
 
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* Insurer Travelers rises after results, J&J edges lower

* Google, IBM and Texas Instruments to report late Tuesday

* Weak existing-home sales has little effect on market

* Dow up 0.2 pct, S&P 500 up 0.1 pct, Nasdaq off 0.1 pct

By Chuck Mikolajczak

NEW YORK, Jan 22 (Reuters) - U.S. stocks mostly edged up on Tuesday after ending last week at five-year highs, but gains were limited with investors showing caution as the earnings season picks up speed.

Both the Dow and the Standard & Poor's 500 closed at five-year highs on Friday, boosted by better-than-expected results in the early part of the earnings season. Although major companies have issued bullish statements, many investors remain wary that economic uncertainty in the fourth quarter dented earnings and revenues.

"The market is playing wait-and-see to see the way the earnings come in this week because you've got some biggies," said Fred Dickson, chief market strategist at D.A. Davidson & Co., in Lake Oswego, Oregon.

Recent concerns about waning demand for Apple Inc products and a weak outlook from Intel Corp have diminished optimism about the tech sector's prospects. The S&P technology sector index, down 0.4 percent, was the worst performing of the 10 major S&P 500 sectors on Tuesday.   Continued...