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Stocks gain on earnings; Cummins, Ameriprise rise

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Solid earnings from a broad swath of companies pushed stocks higher. Wealth manager Ameriprise Financial surged after results beat estimates. And Cummins, a maker of large diesel engines, jumped on a surge in North American sales. Coach, a maker of handbags and other luxury goods, was among the day’s losers. The stock fell 9.3 percent as sales in North America came under pressure from competitors like Michael Kors. On Wednesday, the Commerce Department will issue the first of three estimates of how fast the US economy grew in the quarter. And most economists expect the Fed to ease its monthly bond purchases.

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