New York. US stocks held near record highs on Tuesday as investors digested a flood of corporate earnings reports from major companies. The S&P 500 was little changed in early trading, while the Dow Jones Industrial Average rose 27 points and the Nasdaq composite slipped 0.1 percent.

General Motors rallied after posting stronger quarterly results than expected and raising some of its full-year forecasts. Coca-Cola and GE Aerospace also advanced after beating Wall Street’s profit estimates. Gold prices fell, while Treasury yields eased in the bond market. European and Asian markets were mostly higher.

Earlier Tuesday, US futures were flat ahead of the opening bell as traders awaited a wave of third-quarter earnings. The S&P 500 has surged 35 percent since April, leaving investors eager to see whether corporate profits can justify the market’s lofty valuations.

GM shares jumped more than 9 percent after the automaker cut its expected tariff impact to between $3.5 billion and $4.5 billion, down from $4 billion to $5 billion, and boosted its full-year adjusted earnings forecast.

Coca-Cola rose 3.1 percent after reporting higher sales and profits, driven by a 6 percent increase in prices. The company said beverage volumes were flat in North America and Latin America, down 1 percent in Asia, and up 4 percent in Europe, the Middle East, and Africa.

Netflix and Mattel are set to report earnings after Tuesday’s close, while Tesla is scheduled to release results on Wednesday.

Earnings reports are taking on added importance as the ongoing US government shutdown has delayed key economic data, making it harder for the Federal Reserve to gauge whether inflation or a slowing labor market poses a greater risk to the economy.

Despite the shutdown, the Commerce Department plans to release September’s consumer price index on Friday, providing a critical input for the Fed’s next policy decision.

In overseas markets, Japan’s Nikkei 225 rose 0.3 percent to 49,316.06 as conservative lawmaker Sanae Takaichi became the country’s first female prime minister. She is expected to favor market-friendly policies such as low interest rates and increased government spending. Germany’s DAX gained 0.2 percent, France’s CAC 40 rose 0.5 percent, and Britain’s FTSE 100 added 0.3 percent.

The US dollar strengthened to 151.95 Japanese yen from 150.75 yen, as investors speculated that Takaichi would push to slow the Bank of Japan’s pace of rate hikes, potentially keeping the yen weak and inflation elevated above the 2 percent target.

Elsewhere in Asia, Hong Kong’s Hang Seng gained 0.7 percent to 26,027.55, while the Shanghai Composite rose 1.4 percent to 3,916.33. Optimism grew on reports that US President Donald Trump and Chinese President Xi Jinping may meet later this month at a regional summit, fueling hopes of easing trade tensions.

China’s Communist Party leaders are meeting this week to map out the nation’s five-year policy plan, though details from the closed-door discussions are expected to emerge gradually.

South Korea’s Kospi rose 0.2 percent to 3,823.84, Australia’s S&P/ASX 200 climbed 0.7 percent to 9,094.70, and Taiwan’s Taiex added 0.2 percent.

In energy markets, US benchmark crude gained 32 cents to $57.54 a barrel, while Brent crude, the global benchmark, rose 30 cents to $61.31. The euro edged down to $1.1619 from $1.1641.

Add as a preferred source on Google +