U.S. stocks rose to records after several big companies delivered better-than-expected profits for the spring.
The S&P 500 climbed 0.6 percent Tuesday to top its all-time high set last week. The Dow Jones Industrial Average leaped 1.8 percent a day after setting its own record, and the Nasdaq composite added 0.2 percent.
UnitedHealth Group drove the market after reporting stronger results than expected, while smaller stocks jumped amid a widespread rally that broadened beyond the Big Tech stocks that led for much of the year. A report showed sales at U.S. retailers held firmer than expected, but that didn’t dampen expectations for coming cuts to interest rates.
On Tuesday:
The S&P 500 rose 35.98 points, or 0.6 percent, to 5,667.20.
The Dow Jones Industrial Average rose 742.76 points, or 1.8 percent to 40,954.48.
The Nasdaq composite rose 36.77 points, or 0.2 percent, to 18,509.34.
The Russell 2000 index of smaller companies rose 76.65 points, or 3.5 percent, to 2,263.67.
For the week:
The S&P 500 is up 51.85 points, or 0.9 percent.
The Dow is up 953.58 points, or 2.4 percent.
The Nasdaq is up 110.89 points, or 0.6 percent.
The Russell 2000 is up 115.41 points, or 5.4 percent.
For the year:
The S&P 500 is up 897.37 points, or 18.8 percent.
The Dow is up 3,264.94 points, or 8.7 percent.
The Nasdaq is up 3,497.99 points, or 23.3 percent.
The Russell 2000 is up 236.60 points, or 11.7 percent.
The Epoch Times copyright © 2024. The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
