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Dow, S&P 500 up before State of Union address

NEW YORK (Reuters) - The Dow and S&P 500 closed modestly higher on Tuesday, putting the Dow within striking distance of all-time highs as investors looked ahead to President Barack Obama's State of the Union address.

Based on the latest available data, the Dow Jones industrial average was up 47.77 points, or 0.34 percent, at 14,019.01. The Standard & Poor's 500 Index was up 2.43 points, or 0.16 percent, at 1,519.44. The Nasdaq Composite Index was down 5.51 points, or 0.17 percent, at 3,186.49. (Reporting By Caroline Valetkevitch; Editing by Nick Zieminski)