Industrials help S&P 500 touch intraday records US stocks extended a rally and broke intraday records, supported by upbeat corporate reports such as leather goods retailer Fossil, which raised its full-year earnings guidance. After mixed trading in the morning session, the S&P 500 index was trading 0.2 per cent higher at 1,619.91 by midday in New York. The gains helped the benchmark surpass a record set a day earlier. Meanwhile, the Dow Jones Industrial Average gained 0.2 per cent to 14,997.46, dipping back below the landmark 15,000 level. The blue-chip heavy measure also surpassed its all-time intraday trading high. Nine of the 10 sectors in the S&P 500 were higher in midday trading with sectors more closely tied to the fortunes of the global economy outperforming. The industrials and materials indices on the benchmark rose 0.7 per cent and 0.5 per cent, respectively. The information technology group was the only area in the red, down 0.4 per cent. Shares in Fossil were among the day's strongest risers, jumping 8.3 per cent to $107.13. The consumer retailer was buoyed by encouraging first-quarter results, which came in ahead of analysts" forecasts. Although the company offered soft guidance for its next quarter, investors were encouraged by signs that its full-year profit prospects had improved. Microsoft shares fell 1.3 per cent to $33.31 after the Financial Times reported that the company was preparing to make significant changes to its latest operating system, saying that users found it difficult to master the software. Apple , which had recently recovered from early year woes to set multi-week highs, fell 0.6 per cent to $457.79. Declines in Apple weighed on the technology-heavy Nasdaq, which lagged behind the other indices and was down fractionally to 3,391.97. WiFi equipment makers were hard hit after Aruba Networks announced expected April revenue below expectations. The company fell 22.1 per cent to $17.18 while rival Ruckus Wireless lost 24.9 per cent to $14.27. Cisco , the industry leader in the field, lost 1.7 per cent to $20.45. Disney , the world's largest entertainment group, was flat at $65.07 as it prepared to release its latest quarterly results after the market closed. Online retailers suffered a setback in their efforts to avoid US state taxes on their sales. A bill, which has been lobbied against by internet sites such as eBay, was passed by the Senate on Monday and could end tax-free online shopping. The passage produced mixed results with eBay shares 0.4 per cent lower at $53.87 while Amazon was up 1.5 per cent to $259.65. DirecTV earnings beat estimates, sending its shares up 6.2 per cent to $61.56 as the company reported strong subscriber growth in Latin America. Elsewhere, a $1.7bn settlement announced on Monday between MBIA and Bank of America sent both companies higher on Tuesday. MBIA was up 1.4 per cent to $14.48, while BofA traded up 0.5 per cent to $12.95. First Solar fell 9 per cent to $43.40, placing it among the day's biggest fallers after first-quarter earnings disappointed. The disappointment for the solar panel manufacturer comes after a torrid start to the year, having risen almost 41 per cent in 2013. Discovery Communications dropped 2.1 per cent to $77.40 after the company released first-quarter earnings that missed earnings-per-share targets. Alcatel-Lucent was among the day's top risers, up 9.2 per cent to $1.43. The telecoms-equipment company recently named former Vodafone executive Michel Combes as chief executive. Facebook shares traded 1.3 per cent lower at $27.22 a day after the Financial Times reported that the social network would begin to embrace video advertising as a new revenue stream. Abercrombie & Fitch shares rose 5.7 per cent to $51.76 on news that Goldman Sachs upgraded the retailer from sell to hold.