U.S. stocks rose to record highs on Tuesday as a rally in tech lifted the broader market. Investors also cheered strong quarterly results from top companies in Corporate America.
The S&P 500 gained 0.7 percent to finish at 2,599.03 — an all-time high— with information technology as the best-performing sector. The index also broke above 2,600 for the first time during the session.
The Technology Select Sector exchange-traded fund (XLK), which tracks the S&P 500 tech sector, rose 1 percent to reach levels not seen since 2000.
The Dow Jones industrial average jumped 160.50 points to close at 23,590.83, a record. Apple rose 1.9 percent and was the best-performing stock on the Dow.
The tech-heavy Nasdaq composite rose 1.1 percent to an all-time high of 6,862.48. Large-cap tech stocks like Facebook, Amazon, Netflix and Alphabet all closed higher, along with the iShares Nasdaq Biotechnology ETF (IBB).
"A lot of big tech is up big, so that's helping us here," said Dave Lutz, head of ETF trading at JonesTrading. He also noted that tech stocks may be getting a boost ahead of the holiday shopping season.