Modest Advance for Wall Street

While the earnings inflow was much slower than it has been in previous days, some big companies were still reporting, including Dow component Verizon (VZ Quote), which exceeded analyst targets, and Kellogg (K Quote), which guided lower for next year.

Verizon tacked on 31 cents, or 0.7%, to $45.91, but Kellogg slumped $1.52, or 2.8%, to $52.92.

Humana (HUM Quote) reported a third-quarter profit that nearly doubled from a year ago, easily beating the Thomson First Call average estimate. The company also boosted its full-year view. Shares of Humana, though, relinquished early gains and closed down $2.08, or 2.8%, to $73.48.

Also, shares of Merrill Lynch (MER Quote) were in focus amid reports that CEO Stan O'Neal is close to a deal to exit the company. Rumors of O'Neal's departure sent the stock 8.5% higher last time out, and Merrill finished with another gain of $1.32, or 2%, at $67.41.

Elsewhere, Treasury prices were higher in the absence of any economic releases. The 10-year note was up 6/32 in price, yielding 4.38%. The 30-year bond added 23/32 in price, yielding 4.66%. The dollar was again making record lows against the euro.

Overseas markets were stronger. In Asia, Hong Kong's Hang Seng rallied 3.9% overnight, and Japan's Nikkei 225 climbed 1.2%. In Europe, London's FTSE 100 was better by 0.7%, and Germany's Xetra Dax was up 0.8%.