Goldman, Lockheed results buoy Wall Street

U.S. stocks closed higher for a second straight day after solid quarterly results from Goldman Sachs and Lockheed Martin lessened worries of a weak earnings season

, becoming the latest U.S. technology company to cut jobs or slow hiring amid a global economic slowdown.

The Fed's path has left many investors worried it could tilt the economy into a recession by making a policy mistake and raising rates too much. Fed officials have largely been in sync in comments about the need for the central bank to tamp down inflation.has slashed U.S. growth forecasts for this year and next and was set to warn that the Fed's interest rate hikes and inflation will drive the economy into a 1990-style recession.

Advancing issues outnumbered declining ones on the NYSE by a 2.70-to-1 ratio; on Nasdaq, a 1.90-to-1 ratio favored advancers. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 80 new highs and 102 new lows.Reporting by Chuck Mikolajczak; Editing by David Gregorio

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