By Sara Sjolin and Anora M. Gaudiano, MarketWatch

Dollar index rises for 4th straight session

The Dow Jones Industrial Average hit an all-time high shortly after the opening bell, but struggled to push further into record territory in early Tuesday trade, as investors focused on a wave of high-profile corporate earnings.

What are stock indexes doing?

The Dow Jones Industrial Average hit an intraday all-time high at 22,992.21 after opening gains, but recently traded flat at 22,960. The S&P 500 retreated 2 points, or 0.1%, to 2,555 with six of the 11 main indexes trading lower.

See:Dow industrials dalliance with 23,000 is a sign of the stock market's velocity (http://www.marketwatch.com/story/the-stock-markets-velocity-has-the-dow-flirting-with-230000-2017-10-05)

The Nasdaq Composite Index slipped 6 points, or 0.1%, to 6,618.

What's driving the markets?

It's all about financial updates on Tuesday, with the third-quarter earnings season continuing at full speed through this session.

Johnson & Johnson (JNJ) rose 1.6% and UnitedHealth Group Inc.(UNH) climbed 2.8% after both beat earnings forecasts.

Morgan Stanley(MS) shares rallied 2.6% after the Wall Street bank reported earnings that easily beat forecasts (http://www.marketwatch.com/story/morgan-stanleys-earnings-top-estimates-2017-10-17) as its wealth-management business continued to make reliable profits.

Goldman Sachs Group Inc.(GS) also beat forecasts, but shares were little changed in morning trade.

See:Third-quarter earnings seen as 'an easy beat,' may bring more market records (http://www.marketwatch.com/story/third-quarter-earnings-seen-as-an-easy-beat-could-set-up-more-stock-market-records-2017-10-09)

And after the market closes, International Business Machines Corp.(IBM) is slated to report.

The dollar got a boost from media reports out late Monday (https://www.bloomberg.com/news/articles/2017-10-16/taylor-is-said-to-impress-trump-for-fed-chairman-as-warsh-slips) saying that Stanford University's John Taylor, the economist behind the famous "Taylor Rule," made a favorable impression on President Donald Trump last week.

Taylor is considered one of the more hawkish candidates in the running to become the next Federal Reserve chairman, and his "Taylor Rule" implies that interest rates should be a lot higher than they are now.

Read:Is the Fed chair race more wide open than portrayed? (http://www.marketwatch.com/story/trump-looking-at-a-lot-of-people-in-search-for-next-fed-chief-mnuchin-2017-10-13)

The ICE Dollar Index was up 0.3% at 93.545 in Tuesday's trade.

What do strategists say?

After the records logged on Monday, Hussein Sayed, chief market strategist at FXTM, questioned how much upside remains.

"It looks to me like speculation and greed are driving the current bull market, which could be an indication of the latest stages of an uptrending market. However, it is not a wise decision to sell uptrend markets; speculation might continue to drive stocks higher, especially if earnings surprise to the upside," he said in a note.

Which economic data are due?

The cost of imported goods jumped (http://www.marketwatch.com/story/us-import-prices-surge-07-in-september-2017-10-17)0.7% in September in the biggest gain in more than a year, led by fuel prices and industrial supplies. Excluding fuel, import prices rose a smaller 0.3%.

Industrial production in the U.S. rebounded in September (http://www.marketwatch.com/story/industrial-production-climbs-03-in-september-in-face-of-hurricane-headwinds-2017-10-17)after two straight declines, rising 0.3% in September, in line with expectations. Capacity utilization rose to 76% from 75.8% but remained below summer levels.

Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)

Which stocks are in focus?

Shares of Netflix Inc.(NFLX) fell 1.8% even as the streaming service late Monday reported stronger-than-forecast subscriber growth (http://blogs.marketwatch.com/thetell/2017/10/16/netflix-earnings-to-show-user-growth-ahead-of-subscription-price-increases-live-blog/)and revenue for the third quarter.

First Take:Netflix plans huge movie push as it faces post-Disney reality (http://www.marketwatch.com/story/netflix-plans-huge-movie-push-as-it-faces-post-disney-reality-2017-10-16)

Also read:Netflix aims for all-time high as analysts see high double-digit upside for shares after earnings (http://www.marketwatch.com/story/netflix-aims-for-all-time-high-as-analysts-see-high-double-digit-upside-for-shares-after-earnings-2017-10-17)

Boeing Co.(BA) shares were down 1.1% after rival aircraft maker Airbus (AIR.FR) took a 50.01% stake in Bombardier Inc.'s CSeries jets (http://www.marketwatch.com/story/bombardier-may-partner-with-airbus-on-cseries-jetliners-2017-10-16).

What are other assets doing?

Asian stocks closed mostly higher (http://www.marketwatch.com/story/asian-market-rally-shows-signs-of-slowing-2017-10-16), but with Chinese stocks ending lower ahead of the Communist Party's congress later in the week. In Europe, indexes were mixed.

Read:5 reasons why investors need to watch China's National Party Congress (http://www.marketwatch.com/story/5-reasons-why-investors-need-to-watch-chinas-national-party-congress-2017-10-13)

Metals slumped, with gold 0.9% lower. Crude oil rose 0.4%, after Iraqi forces took control of oil fields in Kirkuk.

(END) Dow Jones Newswires

October 17, 2017 09:48 ET (13:48 GMT)