With upbeat earnings from technology giant IBM Corp. paving the way, Wall Street advanced Thursday on mainly optimistic earnings reports, taking the Dow Industrials to its first-ever close above 14,000. Stocks pared some gains after the release of minutes from the Federal Reserve's June meeting, which seemed to bolster the view that the central bank would not be cutting rates soon. But investors quickly reversed course and returned to buying.

Profit news from companies like International Business Machines Corp., network equipment maker Juniper Networks Inc., and business software company SAP AG help lift stocks and boosted investors' appetite for technology issues. However, the momentum could be short-lived as Google Inc. after the closing bell Thursday turned in a second-quarter profit that fell short of Wall Street's high expectations.

The Dow rose 82.19, or 0.59%, to 14,000.41. The blue chip index danced around the 14,000 mark during the session, having first reached it on Tuesday but not closing above that level until Thursday. The Dow's close topped the previous record of 13,971.55 set Tuesday and marked the index's 32nd record close of the year.

Broader stock indicators also gained Thursday. The S&P 500 rose 6.91, or 0.45%, to 1,553.08; its previous record of 1,552.50 occurred Friday. The technology-focused Nasdaq composite index rose 20.55, or 0.76%, to 2,720.04, following the upbeat tech earnings.