Bloomberg, (23/01) -- Most U.S. stocks
rose as investors assessed earnings from companies including Norfolk
Southern Corp., Coach Inc., International Business Machines Corp.
 Three stocks rose for every two that
declined in the Standard & Poor’s 500 Index. The U.S. equity
benchmark added less than 0.1 percent to 1,844.88 at 4 p.m. in New York.
The Dow Jones Industrial Average lost 40.58 points, or 0.3 percent, to
16,373.86 for a second day of declines.
Twenty-five companies in the S&P 500
including Northern Trust Corp., Netflix Inc. and EBay Inc. report
earnings today. Of the 81 index members that have posted results so far
this season, 70 percent have beaten estimates for profit and 64 percent
have exceeded sales projections, according to data compiled by
Bloomberg.
Per-share profit for companies in the
benchmark probably climbed 6 percent in the fourth quarter, while sales
increased 2.2 percent, according to analysts surveyed by Bloomberg.
A five-year rally that lifted the
S&P 500 up more than 170 percent from a bear-market low has boosted
equity valuations to near the highest level since 2009. The index trades
at 15.6 times the estimated earnings of its members, more than the
five-year average multiple of 14.1, data compiled by Bloomberg show.
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