News Summary: Dow edges toward record

NO KORS FOR ALARM: Luxury clothing and accessories retailer Michael Kors surged 9 percent to $62 after reporting earnings that surpassed analysts' forecasts. The company also raised its forecast for the year ending in March.

CONFIDENCE IS KEY: Confidence in the outlook for global growth has strengthened among asset managers in recent months, according to a Bank of America Merrill Lynch survey. The poll found that 59 percent of investors believe that the global economy will strengthen in the year ahead.