Opening Bell: U.S. Stocks to Set New Record Highs; Starbucks Price Increases Take Effect

U.S. stocks rose on Tuesday, following Monday's record high closing in the S&P 500, as second quarter earnings season began. On Monday, Alcoa (AA) - Get Report reported adjusted earnings of $0.15 a share, beating estimates of $0.09. Revenue of $5.3 billion also topped forecasts, but fell 10 percent from the same quarter last year. One analyst said the earnings beat came on the heels of higher demand for aluminum in China. Amazon (AMZN) - Get Report is hosting its second annual Prime Day on Tuesday, which has better deals than Black Friday. Shares were up just shy of one percent. Coffee lovers, take note. The recently announced price increases at Starbucks (SBUX) - Get Report go into effect Tuesday. Prices are set to rise by some $0.30. The affected drinks include espresso, brewed coffee and tea lattes. On Monday, the company announced wage increases for all of its store employees. TheStreet's Scott Gamm reports from Wall Street.