Dow Jones, S&P, Nasdaq and Russel reach new record highs

Dow Jones, S&P, Nasdaq and Russel

U.S. equities closed at record highs on Tuesday after a key naming by the Trump administration and corporate earnings.

The Dow Jones Industrial Average went up more than 100 points, with Boeing and UnitedHealth leading in gains. The S&P 500 increased 0.6 percent, with real estate leading all sectors higher.

"The fundamental backdrop continues to support us while we wait for tax reform and deregulation," said chief market strategist at Wunderlich Securities, Art Hogan. "Investors have been patient, but at some point that patience will run out; just not today."

The Nasdaq composite gained 0.47 percent. The Russell 2000, which is made up of small-cap stocks, also reached new records.

Because of the Presidents Day holiday, the U.S. stock market was closed on Monday.

"I think this is mainly about the earnings," said CFRA Research chief investment strategist Sam Stovall. "While the appointment of General McMaster is a positive, it still boils down to whether the market will get the kind of policy it expects." Stovall also stated the market could be “chasing itself higher in a fear-of-missing-out mindset.”

The Dow Jones Industrial Average went up 0.58 percent or 118.95 points, to close at 20,743.

The S&P 500 went up 0.6 percent at 14.22 percent, to finish at 2,365.38.

The Nasdaq composite gained 0.47 percent or 23.37 points, to end at 5,865.95.

At the New York Stock Exchange, around three stocks rose for every decliner with an exchange volume of 877.13 million and composite volume of 3.535 billion at the close.

The widely regarded best gauge of fear in the market, the CBOE Volatility Index, traded near 11.5.

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