SINGAPORE (Reuters) - United Parcel Service Inc <UPS.N>, the world's largest package delivery service, said on Wednesday the U.S. holiday season is likely to be better than expected as the global economy gradually recovers.

FedEx is predicting a little more holiday cheer this year.

Stocks advanced Thursday as investors seemed to focus more on some big-name earnings beats and a rise in leading indicators instead of a disappointing jobless report. Travelers and MMM led the Dow.

Stocks advanced Thursday as investors seemed to focus more on some big-name earnings beats and a rise in leading indicators instead of a disappointing jobless report.

United Parcel Service, the world's largest package delivery service, reported a 43 percent drop in earnings that nonetheless topped analysts' forecasts, saying that cost-cutting helped its profit margins.

Stocks slipped Thursday as investors weighed a disappointing jobless-claims report and some encouraging earnings reports.

Earnings continue to come in largely above expectations, but other factors are waylaying the stock market's recent advances - ranging from Walmart's price cuts to analyst Richard Bove's downgrade of Wells Fargo to rising oil prices. 

What follows is a roundup of corporate earnings reports for Thursday, Oct. 22.

After a 60 percent run-up in the stock market since March and the Dow again eclipsing 10,000, investors believe the market is priced to perfection. So if earnings fail to hold up their end, stocks could come under pressure.

After spending much of the year as a market laggard, industrial stocks have rebounded over the past three months and are considered a good bet to keep moving higher.

Stocks snapped a five-day winning streak Friday as a sharp drop in oil prices and profit-taking offset an improvement in consumer confidence and a rosier outlook from economic bellwether FedEx. Still, for the week, stocks gained 1.7 percent.

FedEx Corp., the world's second largest package delivery company, raised its first-quarter earnings forecast, citing better-than-expected international shipments and cost-cutting.

At package delivery behemoths FedEx and UPS, last fall's meltdown and the worst recession in a generation has meant a sharp drop-off in the number of documents and packages sent overnight.

The Dow topped 9,000 for the first time since January as investors shrugged off a rise in jobless claims and cheered earnings from Ford and 3M. A third straight rise in existing-home sales also buoyed the market.

The Dow topped 9,000 for the first time since January as investors shrugged off a rise in jobless claims and cheered earnings from Ford and 3M. A third straight rise in existing-home sales also buoyed the market.