US stocks enter record territory as focus shifts to quarterly earnings report

US equity markets kick started a new week on a positive note, with all the three major indices entering fresh record territory immediately after the opening bell.

During the opening hour of trade, the Dow Jones Industrial Average rose over 50-points to 22,925, while tech-heavy Nasdaq Composite Index climbed nearly 20-points to 6,625. Meanwhile, the broader S&P 500 Index added 5-points and stood at 2,558. 

Investors cheered a solid initial round of third quarter earnings report and look forward to a flood of important results this week from prominent companies. More than 200 companies are set to report their quarterly earnings report during the next several sessions.

The markets are yet to show any clear signs of a meaningful correction but would now need to be supported by good earnings report if it wants to continue to move higher from current levels. 

On the economic data front, the Empire State Manufacturing Index surpassed even the most optimistic estimates and remained supportive of the prevalent bullish market sentiment.