Stocks tick up, extend record run

NEW YORK - Major U.S. stock indexes inched higher on Tuesday to another record high.

The Standard & Poor's 500 index edged up a point to 2,040. The Dow Jones industrial average also rose a point to 17,614, while the Nasdaq composite rose nine points, or 0.2 percent, to 4,660.

It was the fifth straight record high close for the S&P 500 index and the 40th this year. The Dow also closed at a record.

Stocks will likely move "sideways to up" for the remainder of the year, said James Liu, global market strategist at J.P. Morgan Funds. Earnings "continue to look good," he said.

While earnings remain strong, the market could face volatility as investors fret about the potential timing of the Federal Reserve's first increase in interest rates since 2006. "That's my largest area of concern," Liu said.

Homebuilders advanced Tuesday after D.R. Horton reported a surge in orders. It was the second day in a row of good results from the industry. D.R. Horton gained 2 percent.

Juniper Networks sank 5.7 percent after the maker of network equipment said its CEO resigned.

Benchmark U.S. crude rose 54 cents to $77.94 a barrel on the New York Mercantile Exchange. It fell $1.25 to close at $77.40 a barrel on Monday. Brent crude fell 67 cents to $81.67 a barrel in London.

The November gold contract on the New York Mercantile Exchange closed today at $1162.80 an ounce -- up $3.20. The current silver contract on the "NYMEX" closed at $15.66 an ounce, up 1 cent.