Stocks Ended Slightly Higher, Dow Near a Record

U.S. stocks closed modestly higher on Tuesday, putting the Dow on pace for its highest close since October 2007, ahead of President Barack Obama’s State of the Union address later this evening. The Dow industrials advanced 47.46 points, or 0.34%, to close at 14,018.70. The S&P 500 Index rose 2.42 points, or 0.16%, to close at 1,519.43. The Nasdaq Composite Index shed 5.51 points, or 0.17%, to close at 3,186.49.

The federal government reported a rare surplus for January and is on track to run its smallest annual budget deficit since President Barack Obama took office. The Treasury Department said Tuesday that the government took in a surplus of $2.9 billion in January. That’s the first monthly surplus since April, a month that benefited from income tax payments.

Intel Corp plans to launch an online television service this year that will stream live TV as well as provide content on demand, confirming reports that the world’s top chipmaker is getting into the media market.

Comcast Corporation (NASDAQ:CMCSA) today reported results for the quarter and year ended December 31, 2012. 2012 Earnings per Share Increased 52.0% to $2.28; Excluding Gains on Asset Sales and Other Adjustments, EPS Increased 22.2% to $1.93.