far and has made a series of new highs since mid-January.
According to Thomson Reuters data, of 301 companies in the S&P 500 that have reported earnings, 68.1 percent have exceeded analysts' expectations, above a 62 percent average since 1994 and 65 percent over the past four quarters. In terms of revenue, 65.8 percent of companies have topped forecasts.
Fourth-quarter earnings for S&P 500 companies are estimated to have risen 4.7 percent, according to the data, above a 1.9 percent forecast at the start of the earnings season.
Walt Disney Co's stock was up 0.4 percent at $54.52, after the company beat estimates for quarterly adjusted earnings and gave an optimistic outlook for the next few quarters.
Volume was roughly 6.5 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT, compared with the 2012 average daily closing volume of about 6.45 billion.
Advancers outpaced decliners on the NYSE by roughly 17 to 12 and on the Nasdaq by about 13 to 11.