Stocks get Apple boost

Investors were in good spirits Wednesday as they pondered better-than-expected quarterly results from Apple.

The Dow Jones industrial average rose 0.2% at the opening bell, surpassing its record closing high from Tuesday. The S&P 500 added 0.3%, also touching a record level and coming within points of 1,700. The Nasdaq rose 0.7%.

Apple was the biggest driver.

Shares of Apple were rallying after the iPhone maker reported quarterly earnings that beat expectations, easing investor anxiety about tech giant's future. One of the most widely-held stocks, Apple shares often have an out-sized impact on the overall market.

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Overall, corporate earnings have been better than anticipated, although revenue growth remains modest.

Among the nearly 150 companies in the S&P 500 that have reported second-quarter results, 65% have topped analysts' low expectations, according to S&P Capital IQ.

Aside from earnings, Dell said it has received a revised offer from founder Michael Dell, and would be holding a special meeting Aug. 2 to consider its options.

Apparel company HanesBrands said it reached an agreement to buy Maidenform Brands in an all-cash deal worth $575 million.

On the economic front, the Census Bureau will release data on new-home sales at 10 a.m. ET.

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European markets were all moving up in midday trading after the latest eurozone purchasing managers' index showed the region was stabilizing. Manufacturing output grew for the first time since February 2012, while the service sector saw its smallest rate of decline for 18 months.

"The hope for the eurozone is that current gradually rising confidence encourages businesses to increasingly pare back their job cutting and become more prepared to invest," said Howard Archer, chief European economist at IHS Global Insight.

Related: Factory output puts brakes on China's growth

Meanwhile, Asian markets had a mixed day after HSBC said Wednesday that its "flash" index of Chinese manufacturing purchasing managers' sentiment fell to an 11-month low in July.

First Published: July 24, 2013: 9:41 AM ET