Stocks closed modestly higher on Wall Street Tuesday, enough to nudge the Nasdaq composite to a record high and past 15,000 for the first time. The broader S&P 500 index also set a record high. Banks, consumer-focused companies, and small-company stocks outpaced the rest of the market. The price of crude oil had its second solid gain in a row, clawing back some more of the ground it lost over the previous two weeks. Halliburton, Occidental Petroleum and Valero Energy all rose 3% or more. The yield on the 10-year Treasury note rose to 1.29%. The S&P 500 rose 6.70 points, or 0.2%, to 4,486.23. The Dow Jones Industrial Average rose 30.55 points, or 0.1%, to 35,366.26. The Nasdaq rose 77.15 points, or 0.5%, to 15,019.80.
Best Buy jumped 8.3% for the biggest gain in the S&P 500 after reporting results that were better than analysts were expecting and raising its full-year forecast, the AP reports. Travel companies were also broadly higher. Las Vegas Sands rose 7.5% and Wynn Resorts gained 7%. Airlines and cruise line operators also rose. American Airlines was up 3.8% and Delta Air Lines added 3.4%, while Norwegian Cruise Line climbed 4.6% and Carnival rose 4.4%. Pfizer fell 3.1% after rising sharply the day before following the Food & Drug Administration’s full approval of its COVID-19 vaccine. The approval has given cities and companies the legal backing to start requiring mandates. On Monday, New York City and the Department of Defense announced vaccine requirements.
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