S&P 500, Nasdaq close at all-time highs

Wall Street. Photo: Wikimedia Commons/Benoît Prieur

April 24 (UPI) — The S&P 500 and Nasdaq Composite indexes hit record closing highs Tuesday, bouncing back from losses at the end of 2018.

The S&P 500 climbed 0.88 percent to 2,933.68 points, breaking its previous record high from Sept. 20, while the Nasdaq eclipsed its previous all-time high from Aug. 29, closing up 1.3 percent at 8120.82.

Both indexes have had strong starts to the year, with the S&P 500 up 17 percent, its best start since 1987, and the Nasdaq has risen 22 percent for its best start since 1991.

The Dow Jones Industrial Average also rose Tuesday, gaining 145.34 points, or 0.55 percent, to 26,656.39, just short of an all-time high.

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Tuesday’s gains came as Twitter shares climbed 15.6 percent after reporting it has 330 million monthly active users, exceeding analysts’ expectations.

Lockheed Martin stock increased 5 percent and Dow companies Coca-Cola and United Technologies rose 1.7 percent and 2.3 percent respectively after exceeding earnings expectations.

Overall, more than 78 percent of S&P 500 companies surpassed analyst earning expectations this week.

Stocks have had a strong start to the year after the Federal Reserve announced in January that it would hold interest rates steady throughout 2019.

Near the end of 2018 all three indexes experienced sharp losses on Christmas Eve, each falling about 20 percent below their peaks.


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