S&P 500, Nasdaq Composite carve out fresh intraday records at Tuesday’s open as stock market clambers higher
U.S. stocks on Tuesday grinded higher toward all-time highs as investors responded positively to strong corporate earnings and the economic rebound against COVID-19, despite the spread of the delta variant of the disease. The Dow Jones Industrial Average
gained 0.1% to 35,382, the S&P 500 index
rose 0.1% and established a record high at 4,488.79, and the Nasdaq Composite Index
rose 0.3%, after carving out its own intraday record at 14,998.03. In corporate news, Best Buy Co. Inc.
shares were in focus after the consumer electronics retailer reported second-quarter earnings that beat expectations and raised its same-store sales guidance for the year. At the end of the week, Federal Reserve Chairman Jerome Powell is expected to deliver a speech that might provide some insights on the timing and scope of tapering asset purchases for the central bank.