Markets in the U.S. started the month on a positive note as most of the stocks finished up on Tuesday with Dow settling as high as 22,000. Better than expected corporate earnings also weighed on the market.
The NASDAQ composite rose more than 0.23 percent and closed at 6,362.94. The S&P 500 edged up by 0.24 percent to settle at 2,476.35 as it was lifted up by its financial sector.
Meanwhile the Dow Jones industrial average added as much as 72.80 points to hit a record high of 21,963.92 with Goldman Sachs and 3M as its leading advancers. Futures of this 30-stock index immediately signaled that it would reach the 22,000 handle for the first time. The index came of it best performance for the month since February as it advanced about 2.54 percent. Aircraft manufacturer Boeing contributed about 300 points to Dow which makes it one of the leading advancer.
S&P Dow Jones Indices’ senior analysts Howard Silverblatt suggested the market the market got its wish to go up after posting more than five closing highs in July as it still keeps an eye on the floor instead of the groups or man in Washington. According to Thomson Reuters, almost 72 percent of S&P companies that released their earnings on Tuesday were unexpectedly higher. Earnings season is still under way with Apple scheduled to release after the close.
The three major U.S. indices all touched their record highs on Tuesday as the market shrugs off the geopolitical tensions surrounding Washington. Wall Street once again keeps its eye on the White House following the departure of their communications director Anthony Scaramucci last Monday.