Ending a choppy session that initially pulled markets into negative territory, the S&P 500 closed at a new record high Tuesday after monthly economic data alleviated concerns over rising inflation while a string of strong corporate earnings fueled optimism over the economic recovery. Key Facts
The S&P 500 ticked up 36 points, or 0.8%, on Tuesday to close at 4,423 points, beating out its last record close on July 26 and pushing gains this year to nearly 20%. Meanwhile, the Dow Jones Industrial Average and tech-heavy Nasdaq, which are both up about 16% this year, climbed 0.8% and 0.6% to 35,117 and 14,761 points, respectively, ending the day within 1% of their latest highs last month.
Reversing early losses, stocks started to surge after new U.S. factory data at 10 a.m. EDT showed a stronger-than-expected