U.S. stock indexes rose on Tuesday, led by the Dow, as stronger-than-expected results and forecasts from companies including 3M, Caterpillar and General Motors fueled optimism about strength in the economy.
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3M jumped 7.2 percent and Caterpillar 4.7 percent after the two companies reported quarterly results and gave upbeat forecasts. The S&P industrial sector <.SPLRCI>, up 0.6 percent, also hit a record high.
"It has been encouraging to see some of these industrial names report solid numbers and raise their guidance," said Lindsey Bell, investment strategist at CFRA Research in New York.
"Looking at some the earnings we got yesterday and the ones today, you're seeing strength domestically here in the U.S."
But the financial index <.SPSY>, up 0.9 percent, gave the S&P 500 its biggest boost, followed by technology <.SPLRCT>, up 0.5 percent.
The Dow Jones Industrial Average <.DJI> rose 200.03 points, or 0.86 percent, to 23,473.99, the S&P 500 <.SPX> gained 6.5 points, or 0.25 percent, to 2,571.48 and the Nasdaq Composite <.IXIC> added 23.42 points, or 0.36 percent, to 6,610.25.
Strong earnings and optimism about President Donald Trump's tax plans helped the Dow and S&P close at a record high on all five trading days last week.
Offsetting some of the day's gains, Biogen
Advancing issues outnumbered declining ones on the NYSE by a 1.36-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored advancers.
(Additional reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'Silva and Nick Zieminski)