Summary Box: Strong earnings boost Dow 74 points

Summary Box: Strong earnings from AT&T, 3M lift Dow Jones average; fears about Europe ease

Associated Press

EARNS UP: Muscular U.S. corporate earnings propelled the Dow Jones industrial average higher Tuesday. AT&T led the gains after reporting better-than-expected profit. Verizon, AT&T's main rival, was close behind. 3M rose sharply after delivering an impressive quarterly report.

APPLE SWINGS: Apple fell two percent, dragging the Nasdaq composite average to a lower close, after AT&T said it activated far fewer of the electronics company's iPhones last quarter. Apple reported another record quarter after the market closed and surged in late trading.

EUROPE LOOMS: European stocks closed higher and borrowing costs for Spain fell, easing fears about the crisis there. But worrying signs remain, including weak demand at auctions of new Italian and Spanish debt.

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