US STOCKS-Data, earnings lift Wall Street; conflicts eyed
* U.S. airlines suspend flights to Israel
* Inflation data keeps Fed on pace
* Indexes up: Dow 0.4 pct, S&P 0.55 pct, Nasdaq 0.75 pct (Updates prices, changes comment, adds S&P 500 at record)
By Rodrigo Campos
NEW YORK, July 22 (Reuters) - The S&P 500 hit a record high on Tuesday as inflation data was seen keeping the Federal Reserve in an equities-friendly tone, while hopes rose for an easing of tensions in Ukraine.
Mixed earnings have been pouring in since Monday's closing bell, allowing the positive bent to continue. U.S. consumer prices rose in June as the cost of gasoline surged, but the overall trend pointed to a slow build-up of inflation pressures -allowing the Fed to continue to gradually take the foot off the stimulus pedal.
An index of homebuilder stocks rose 1.1 percent after separate data showed U.S. home resales rose in June at their fastest pace in eight months.
"It seems the market for today is taking a breather from worrying about the geopolitical concerns," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.
"The market is focusing on several good earnings reports and of course economic data." Continuación...