U.S. stocks on Tuesday grinded higher toward all-time highs as investors responded positively to strong corporate earnings and the economic rebound against COVID-19, despite the spread of the delta variant of the disease. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -1.34% gained 0.1% to 35,382, the S&P 500 index /zigman2/quotes/210599714/realtime SPX -1.18% rose 0.1% and climbed near a record high at 4,489.88, and the Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP -1.83% rose 0.3%, after carving out an intraday record at 15,003.20. In corporate news, Best Buy Co. Inc. /zigman2/quotes/205918291/composite BBY -4.31% shares were in focus after the consumer electronics retailer reported second-quarter earnings that beat expectations and raised its same-store sales guidance for the year. At the end of the week, Federal Reserve Chairman Jerome Powell is expected to deliver a speech that might provide some insights on the timing and scope of tapering asset purchases for the central bank.
An earlier version of this story incorrectly stated that the S&P 500 hit an intraday high. The S&P 500 rose 0.1% to an intraday peak at 4,489.31 but didn't exceed its all-time intraday high at 4,489.88 put in on Monday. The error has been corrected.