US stocks moved higher Tuesday afternoon as investors welcomed solid results from home builders, retailers and other companies. Technology stocks and banks also rose. The rally briefly placed the S&P 500 on track for an all-time high. The benchmark index of large US companies was hovering just below its last closing high set seven months ago.
The S&P 500 rose 10 points, or 0.4 per cent, to 2,867 as of 2:49 p.m. Eastern Time. Some Industrial Average gained 100 points, or 0.4 per cent, to 25,859. The Nasdaq composite added 49 points, or 0.6 per cent, to 7,870. The Russell 2000 index of smaller-company stocks picked up 22 points, or 1.3 per cent, to 1,720. The Russell 2000 was on track to close at a record high.
"That we got to these levels in January was a big surprise, more so than we're back there now".
"We've had a mildly higher market after the correction on the back of these amazing earnings."