The benchmark US S&P 500 stock index set record closing and intraday highs for the second straight day on Tuesday and the Dow Jones industrial average reached record highs for the first time in over a year as optimism about the world economy and upbeat corporate results from Alcoa boosted risk appetite. The benchmark S&P 500 ended at 2,152.14, topping Monday's record close of 2,137.16, while the Dow closed at 18,347.67 to top its previous record high touched in May 2015.
The S&P 500 hit a record intraday peak of 2,155.40, while the Dow hit an intraday record of 18,371.95. The tech-heavy Nasdaq Composite also gained, wiping out its losses for the year and notching its highest close since late December.
Alcoa reported a smaller-than-expected drop in quarterly profit, sending the aluminum producer's shares up more than 5 percent and helping boost optimism about the earnings season. European shares rose for a fourth straight day.
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