Wall Street Rebounds and S&P 500 Logs New Record High

The New York Stock Exchange (NYSE) closed higher on Tuesday, recovering from yesterday’s losses after struggling for direction earlier in the session, due to pressures on the tech sector. However, Wall Street investors showed more focus towards earnings reports, with an improved sentiment driving the S&P index to a new all-time closing high.

The Dow Jones Industrial Average gained 278.24 points, or 0.8%, to close at 35,116.40 points.

The S&P 500 index added about 36 points, or 0.8%, and settled at a new record high of 4,423.15 points.

The Nasdaq Composite Index continued to rise and increased by 80.23 points, or 0.6%, to close at 14,761.29 points.

Unlike Monday, when the PMI showed a slow in the manufacturing sector, today’s economic indicators were more positive, after official data showed an improvement in factory orders by 1.5% in June.