The S&P 500 was within striking distance of its all-time high on Tuesday as better-than-expected results from Twitter and a host of industrial companies eased concerns about slowing corporate profits.
The benchmark was just 0.4% away from an intra-day record high of 2,490.91 hit on Sept. 21. The index breached its record closing high of 2,930.75.
Profits at S&P 500 companies are expected to decline 1.3% in the first quarter, in what analysts say could be the first earnings contraction since 2016. However, forecasts have largely improved since the start of April.
At 11:32 a.m. ET, the Dow Jones Industrial Average was up 123.27 points, or 0.46%, at 26,634.32, the S&P 500 was up 20.88 points, or 0.72%, at 2,928.85 and the Nasdaq Composite was up 81.49 points, or 1.02%, at 8,096.75.
Source : Reuters