Reuters

U.S. stocks edged up on Tuesday to push the S&P 500 to a new high as investors digested a batch of corporate profit results, including Johnson & Johnson's strong profit forecast and 3M's quarterly profit beat as the pace of earnings season picks up.

U.S. consumer confidence rose moderately in January while lingering concerns about the COVID-19 pandemic led to a further deterioration in households' perceptions of the labor market, raising the risk of a second straight month of job losses.

Booming sales at LVMH's fashion brands like Louis Vuitton, particularly in China, helped to cushion the impact of the coronavirus pandemic, which has crimped revenues at the French luxury group.

Preliminary estimates show U.S. President Joe Biden's proposed $1.9 trillion economic stimulus package could boost U.S. economic output by 5% over the next three years, the chief economist of the International Monetary Fund said on Tuesday.

French luxury goods group LVMH plans to overhaul Tiffany & Co's vast merchandise lineup to increase the focus on gold and precious gems and take its silver bangles upmarket after closing the $15.8 billion takeover of the U.S. jeweller this month.

U.S. consumer confidence rose moderately in January amid lingering concerns about the COVID-19 pandemic.

Johnson & Johnson on Tuesday said it expected to report eagerly-awaited data on its COVID-19 vaccine early next week, and that it would be able to meet the delivery target for doses to countries with which it had signed supply agreements.