S&P 500 Notches Fresh Record With Rotation Trade Gathering Pace
A trader works on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergUS stocks closed at an all-time high Tuesday, led by advances in materials, industrials and financials as a market rotation into laggards gained traction.
The S&P 500 Index advanced 0.6% in New York, climbing for a third straight day. Its equal-weighted counterpart rose even more, gaining 1.2% as traders looked beyond technology shares to other sectors. The Nasdaq 100 Index closed up 0.9%, while the old-economy Dow Jones Industrial Average rose 1%, also ending the session at a milestone.