Dow closes with seventh straight record high, U.S. dollar soars

NEW YORK, July 20 (UPI) -- A positive earnings report from tech giant Microsoft helped fuel another record run on Wall Street Wednesday, as stocks climbed and the value of the American dollar reached a four-month high.

The Dow closed Wednesday up 36 points to notch a new all-time high, 18,595.03 -- establishing a new index record for the seventh time in the last seven trading days.

The Dow's performance Wednesday also marked positive gains for nine days in a row -- the first time the index has done that in three years.

Positive indicators from several companies spurred the gains, analysts said, but an earnings and revenue report by Microsoft that beat expectations was the biggest factor.

Earnings reports from a handful of major banking institutions also motivated the market Wednesday.

Morgan Stanley beat earnings predictions by nearly 30 percent in reporting a gain of 75 cents per share -- joining Goldman Sachs, Citigroup, JPMorgan Chase, and Bank of America all beat second-quarter profit forecasts.

The S&P 500 climbed nine points to finish at 2,173.02. The tech-weighted Nasdaq climbed 53 points for a close of 5,089.93.

Also, the U.S. dollar hit a four-month high on Wednesday as Fed rate hike talk picks up and economic data continues to strengthen.