S&P 500 scales new high on upbeat corporate earnings; GE jumps 8%

The Dow Jones Industrial Average rose 8.5 points, or 0.03%, at the open to 30968.55

US stocks rose on Tuesday with the S&P 500 hitting another record high as positive earnings updates from a slew of companies including Dow components 3M and Johnson & Johnson supported sentiment.

Johnson & Johnson rose 3.6% after the drugmaker forecast 2021 profit above estimates and promised data from its widely watched coronavirus vaccine trial soon.
 

3M Co, which makes N95 face masks and Post-it notes, added 2.5% after it reported a better-than expected quarterly profit helped by lower costs and higher demand for its healthcare products during the pandemic.
 

"So far earnings have been really strong and the market is