Investing.com - Wall Street was higher early on Tuesday as upbeat earnings from Estée Lauder lifted sentiment and investors braced for the State of the Union Address later in the day.
Estee Lauder (NYSE:EL) jumped 10% after it topped sales estimates, as earnings season continues to be upbeat.
About 71% of the S&P 500 companies that have reported have beat expectations, according to IBES data from Refinitiv.
The S&P 500 rose 3 points, or 0.14%, as of 9:30 AM ET (14:30 GMT), while the Dow gained 48 points, or 0.19%, and the tech-heavy Nasdaq Composite increased 7 points, or 0.11%.
Meanwhile, investors will listen into President Donald Trump's State of the Union address at 9:00 PM ET (02:00 GMT Wednesday) for news of trade progress and a possible showdown with Congress over funding for the border wall.
"The speech is going to be closely monitored, for an update on trade talks with China and border security, or more specifically the border wall," Craig Erlam, senior market analyst at Oanda in London, wrote in a note.
"There have been plenty of reports that Trump is considering using emergency powers to deliver on his promise of border wall funding and this could be the platform for it."
Facebook (NASDAQ:FB) rose 0.7%, while Amazon.com (NASDAQ:AMZN) gained 1.5% and Netflix (NASDAQ:NFLX) was up 1.4%. Google parent company Alphabet (NASDAQ:GOOGL) dipped 0.8% despite posting higher-than-expected earnings, as higher spending eroded its profit margin.
Elsewhere Intel (NASDAQ:INTC) gained 1.3%, while Boeing (NYSE:BA) rose 1%. Advanced Micro Devices (NASDAQ:AMD) declined 1.6% and Bank of America (NYSE:BAC) fell 0.36%.
In commodities, gold futures fell 0.05% to $1,318.75 a troy ounce, while crude oil gave up earlier gains, slumping 1% to $53.99 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.13% to 95.692.
-- Reuters contributed to this report.