Stocks finished firmly higher Tuesday. The Dow climbed 547 points to 25798, while the S&P 500 gained 59 points to 2809. The Nasdaq Composite rallied 214 points to 7645.
The major averages advanced, notching their best day since March amid a deluge of earnings reports. Small-cap stocks also saw a boost with the Russell 2000 advancing the most in nearly two years. On the data front, a report showed industrial production rose 0.3% in September, posting a fourth consecutive monthly increase. Separately, the Job Openings and Labor Turnover Survey (JOLTS) revealed job openings hit a record 7.1 million in August.
All 11 S&P 500 sectors advanced, with Tech shares surging more than 3.0%. In earnings, Goldman Sachs gained 3.0% to $221.70, while Morgan Stanley rallied 5.7% to $45.94 after both firms topped earnings expectations. BlackRock fell 4.4% to $408.00 after missing consensus revenue estimates. Elsewhere, Johnson and Johnson rose 2.0% to $136.56 after reporting growth in both its pharmaceutical and consumer business units. Industrial supplier WW Grainger slid 12.0% to $280.01 after missing operating margin and sales projections. Adobe jumped 9.5% to $260.67 after announcing expectations of 20% revenue growth in 2019.
Breadth was positive on issues by 10:1 on the NYSE and 9:2 on the Nasdaq. Composite NYSE volume was more than 3.4 billion shares.
Treasuries were modestly weaker with the yield on the 10-year note up one basis point to 3.16%. In commodities, WTI crude rose 0.1% to $71.86/barrel. COMEX gold added 0.1% to $1,227.30/ounce amid a weaker dollar.