Stocks finished higher Tuesday. The S&P 500 gained 0.9% to close at an all-time high of 2,933. The Nasdaq Composite was up 1.3% to record level at 8,120. The Dow advanced 145 points to 26,656.
It was the first record close for the S&P 500 since September, as positive earnings results from several key companies boosted investor sentiment. Ten of 11 S&P 500 sectors finished the session in positive territory, led by Health Care rallying 1.6%, to recover some of last week’s precipitous drop. The Consumer Discretionary and Tech sectors also outperformed with both advancing more than 1%.
In earnings, Twitter jumped 15.6% to $39.77 after topping estimates for monthly active users. United Technologies climbed 2.3% to $140.02 while Lockheed Martin advanced 5.7% to $333.10 after each Industrial company topped consensus expectations and provided optimistic forward guidance. Coca-Cola rose 1.7% to $48.21 amid improved organic growth, while Procter & Gamble slipped 2.7% to $103.16 despite delivering an earnings beat. With just over 20% of companies in the S&P 500 reporting results thus far, roughly 79% have bested analyst earnings expectations, according to FactSet. On the data front, new home sales increased 4.5% in March to the highest level since November 2017.
Breadth was positive on issues by 13:4 on the NYSE and 13:5 on the Nasdaq. Composite NYSE volume was more than 3.5 billion shares.
Treasuries strengthened, with the yield on the 10-year note down two basis points to 2.57%. WTI crude advanced 1.1% to $66.30/barrel, while the U.S. dollar hovered near its best level of 2019.