US stock markets rallied to record levels on Tuesday, with the S&P 500 rising 1.8% amid mounting corporate profits and easing oil prices, according to the Guardian.
Key facts
- The S&P 500 rose 1.8% to a new all-time high, surpassing its prior record set a couple of months earlier.
- The Dow Jones Industrial Average added 907 points, or 1.7%, setting a fresh record after doing so the day before.
- The Nasdaq composite jumped 2.6%.
- Gains were driven by piling corporate profits and easing oil prices, according to the Guardian.
The US stock market rallied to record highs on Tuesday as corporate profits continued to accumulate and oil prices eased, according to the Guardian.
The S&P 500, described by the Guardian as the main measure of Wall Street’s health, shot up 1.8% and topped its previous all-time high, which was set a couple of months earlier.
The Dow Jones Industrial Average added 907 points, or 1.7%, extending its own record set the day before. The Nasdaq composite jumped 2.6%.
The Guardian reported that the advance was fuelled by mounting profits at companies alongside a decline in oil prices.
The gains spanned the S&P 500, the Dow and the Nasdaq, pushing multiple benchmarks to record territory in a single session.
Why it matters
Record highs across the major US stock indexes, reported by the Guardian, reflect the market response to mounting corporate profits and easing oil prices during the session.
Frequently asked questions
How much did the S&P 500 rise?
The S&P 500 rose 1.8% on Tuesday, topping its previous all-time high set a couple of months earlier, according to the Guardian.
What drove the market gains?
According to the Guardian, the rally was driven by mounting corporate profits and easing oil prices.
How did the Dow and Nasdaq perform?
The Dow Jones Industrial Average added 907 points, or 1.7%, to a new record, while the Nasdaq composite jumped 2.6%.