S&P 500 and Nasdaq rally to record closing highs after strong earnings from broad range of companies

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.

Tuesday's move toward an all-time closing high comes less than six months after a sharp decline in late December, which led the S&P 500 to its worst annual performance since 2008. But stocks quickly turned around as the Federal Reserve reversed course on monetary policy while the tone around U.S.-China trade talks improved."These market levels are justified," said Kevin Barry, chief investment officer at Captrust Advisors.

Twitter shares jumped 15.6% on its stronger-than-expected results. The social media company said its monthly active users totaled 330 million, more than a FactSet estimate of 318 million. So far, the results have largely topped expectations. More than 78% of the S&P 500 companies that have reported have surpassed analyst expectations, according to FactSet data.

Outlook bad, stocks still rising? Obviously entering the hyperinflation zone.. Soon we will join Venezuela. Maybe, just maybe then we will realize that the political system is less important than the money system.

Powell almost wrecked the bull with his projections of 4 rate hikes in 2019. Totally unwarranted by the Fed and imagine the Fed had done 25 bps hike in March, we would have been staring at 2000 on the S&P 500. Thanks to POTUS and jimcramer for calling out Powell's blunder.

BrettArends

SaraEisen can you say triple top and false breakout.

EamonJavers I'll bet anyone a steak dinner that this isn't covered by any of the 'major' Networks tonight.

😇🧚‍♂️

Thank you president realDonaldTrump

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