(By Balachander) U.S. stocks ended on a modestly higher note as weak earnings continued to weigh on the sentiment.
The S&P 500 Index inched 0.04 percent higher to end at 1,433.81. The Dow Jones Industrial Average added 0.02 percent to finish at 13,345.89. The Nasdaq Composite Index rose 0.38 percent to close at 3,016.96.
There are no major U.S. economic data scheduled for the day, while the keenly-watched events in the week include: the FOMC meeting, monthly new home sales and pending home sales report, September durable goods orders, weekly jobless claims data and the advance GDP estimate for the third quarter.
"Given the proximity to the November election we do not anticipate any significant new policy announcements in the Fed statement," Deutsche Bank said. "At most, they may acknowledge the slight firming in the tone of the economic data, at least with regards to housing and consumer spending."
Hot Stocks Of The Day: YHOO, TXN, CAT, BTU, MNST, SVU, VFC, ACOM, AAP, OSG
In corporate news, Yahoo! Inc. (NASDAQ: YHOO) will report its quarterly results after the market closes. The Internet company is expected to earn 26 cents a share for the third-quarter on revenue of $1.08 billion.
Texas Instruments (NASDAQ: TXN) is expected to report earnings of 46 cents a share on revenue of $3.34 billion for the three months ended September.
Caterpillar Inc. (NYSE: CAT), a maker of construction and mining equipment reduced its earnings forecast that also trailed market expectations. The company's quarterly revenue also missed consensus. Earnings and revenue rose for the third quarter. Shares added 1.45 percent.
Monster Beverage Corp. (NASDAQ: MNST) retreated 14.23 percent amid media reports that five people may have died in recent years after drinking the company's energy drink. Reports cited records released by the U.S. Food and Drug Administration.
Supervalu Inc. (NYSE: SVU) surged 44.75 percent amid speculation of a buyout. Reuters reported that Cerberus working on takeover offer for the retail and wholesale food store operator.
Ancestry.com Inc. (NASDAQ: ACOM) jumped 7.98 percent after the online family history resource agreed to be acquired by a company owned by European private equity firm Permira for $32.00 per share in cash or $1.6 billion.
Peabody Energy Corp. (NYSE: BTU) surged 11.82 percent after the company's better-than-estimated results for the third quarter.
Advance Auto Parts Inc. (NYSE: AAP) declined 3.33 percent after the retailer of automotive aftermarket parts forecast lower third-quarter results and updated its 2012 earnings guidance that trailed market expectations.
V.F. Corp. (NYSE: VFC) posted better-than-expected quarterly earnings and the apparel retailer lifted its 2012 guidance boosted its quarterly dividend by 21 percent. Shares, however, shed 4.38 percent after the company reported that revenue growth slowed in Europe.
Overseas Shipholding Group Inc. (NYSE: OSG) slumped 62.15 percent after the tanker company said it is evaluating options including filing for bankruptcy protection.
European markets ended lower amid lingering concerns over Spain, with Germany's DAX down 0.71 percent to close at 7,328.05. France's CAC40 declined 0.61 percent to finish at 3,483.25. The U.K.'s FTSE 100 shed 0.22 percent to end at 5,882.91.
Among Asian markets, China's Shanghai Stock Exchange Composite Index added 0.21 percent to end at 2,132.76. Japan's Nikkei 225 inched 0.09 percent higher to finish at 9,010.71. Hong Kong's Hang Seng Index rose 0.68 percent to close at 21,697.55. India's BSE Sensex finished at 18,793.44, up 0.59 percent.
Commodity & Currency Scan:
Crude oil futures dropped 1.47 percent to $88.73 per barrel, and natural gas futures fell 4.89 percent to $3.440 per million metric British thermal units. Gold futures added 0.27 percent to $1,728.7 per ounce and silver futures rose 0.85 percent to $32.37 per ounce.
In the currency market, the euro gained 0.25 percent against the U.S. dollar to 1.3057. The British pound added 0.03 percent against the greenback to 1.6010, and the dollar jumped 0.77 percent against the Japanese yen to 79.9300.