Tue, Jul 23, 2013 6:23 PM EDT 1:06
The Dow industrials and the S&P 500 kept close to record intraday highs in a tight trading range, with healthy earnings from United Technologies bolstering the blue-chip Dow. U.S. stock index futures rose, helped by China's efforts to avoid a hard landing for its slowing economy, but gains were likely to be capped as the S&P 500 notched a third consecutive record closing high. The S&P 500 edged higher and was on track for a third record closing high, led by shares of banks and materials companies, while McDonald's fell on disappointing earnings. The weaker-than-expected results from McDonald's Corp, the world's largest restaurant chain, kept the Dow from making gains after the company said full-year results would be "challenged" in the face of falling sales in Europe, its biggest market. Its shares lost 2.7 percent to $97.60.