S&P 500 hits record high on stronger-than-expected earnings

U.S. stocks traded mostly higher on Tuesday after a slew of major companies reported better-than-expected quarterly results

  • Caterpillar and McDonald’s posted bottom line results that topped estimates, sending its shares higher.
  • This is the busiest week of the earnings season, with approximately 180 S&P 500 components scheduled to report.
  • Wall Street also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting.

The S&P 500 hit a record high shortly after the open, with financials and energy rising more than 1 percent to lead advancers. The Dow Jones industrial average rose 77 points, with Caterpillar and McDonald’s contributing the most gains. The Nasdaq composite lagged, trading 0.1 percent lower as tech stocks slipped.


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