U.S. equities closed higher on Tuesday as large-cap technology stocks came back from their biggest two-day decline since December.
The Dow Jones industrial average advanced about 90 points to hit intraday and closing records, with 3M and Goldman Sachs the most gains. Apple also contributed gains to the 30-stock index.
The S&P 500 gained about half a percent on its way to a record close, with information technology and materials leading advancers. Shares of Apple, Google-Parent Alphabet and Tesla all rose, pushing the Nasdaq composite 0.7 percent higher.
"We don't want to dramatically overweight the [tech] sector, but we still want to participate in it," said John Traynor, CIO at People's United Bank. "You're seeing some good top-line growth in these names."
Katie Stockton, chief technical strategist at BTIG, said the Nasdaq 100 futures had taken a respite Tuesday before the bell "from the pullback that has characterized the technology sector in the last two days."
"There is room to short-term oversold territory, so we would assume the pullback still has a hold, although it is likely to mature in the next few days," Stockton said.
Technology stocks have easily outperformed this year, with the S&P information technology sector advancing 17.6 percent. By comparison, health care — the second-best performer in the S&P — had risen 12.1 for 2017 entering Tuesday's session.
The Nasdaq completed a 2.31 percent two-day pullback on Monday as valuation concerns around the sector escalated.