The S&P 500 and Nasdaq stock market composites smashed record highs Tuesday afternoon after strong earnings reports from a wide range of American companies propelled Wall Street to new heights.
“The S&P 500 and Nasdaq Composite rallied on Tuesday to notch record closing highs as Wall Street cheered stronger-than-expected quarterly profits from some of the largest publicly traded U.S. companies,” reports CNBC.
“The broad index closed 0.9% higher at 2,933.68, topping its previous record close of 2,930.75. The S&P 500 also ended the day just below its intraday record of 2,940.91. The Nasdaq closed up 1.3% at 8,120.82. The Dow Jones Industrial Average, meanwhile, gained 145.34 points to close at 26,656.39 and was 1.1% from an all-time high,” adds the report.
The strong economic data comes as countless Democrats compete to take on President Trump in the months ahead; vowing to raise taxes, reduce America’s energy industry, and increase burdensome regulations.
Read the full report here.