S&P Closed Above 2000

U.S. stocks finished roughly flat on Wednesday, as the S&P 500 inched to another record high in a lethargic session, as traders focused on earnings reports from Tiffany & Co. and other companies. The Dow Jones Industrial Average rose 15.31 points, or 0.09%, to 17,122.01. The S&P 500 edged up 0.10 point to 2,000.12. The Nasdaq Composite dipped 1.02 points, or 0.02%, to 4,569.62.

Luxury jewelry Tiffany & Co. reported better-than-expected second quarter earnings results Wednesday morning, beating the Wall Street forecast on both profit and revenue. It reported $992.9 million in second quarter revenue, up 7% compared to the year-ago quarter and higher than the $989 million analyst consensus. Net income rose 16% to $124 million.

Alibaba’s quarterly revenue growth is surging again, a development that should help the Chinese e-commerce company sell its shares in what could become the technology industry’s most lucrative IPO. Alibaba’s latest quarter ending June 30 was highlighted by revenue of $2.54 billion, a 46 percent increase from last year based on current exchange rates for the yuan.

Hewlett-Packard reclaimed the title of biggest seller of servers worldwide last quarter as IBM’s sales fell 10%, according to a report released Tuesday. H-P recorded $3.2 billion in worldwide server sales in the second quarter, or 25.4% total share of the market.