NEW YORK: Wall Street stocks jumped Tuesday, with tech shares leading the way, as low trading volume and favorable economic data combined to push leading indices to fresh records.
All three major indices ended at all-time highs, with the Dow Jones Industrial Average up 0.7 percent at 23,590.83.
The broad-based S&P 500 gained 0.7 percent to 2,599.03, while the tech-rich Nasdaq Composite Index rose 1.1 percent to 6,862.48.
Many of the biggest tech shares, including Apple, Amazon, Facebook and Google parent Alphabet climbed more than one percent. Health shares were also strong.
The US economic calendar has been relatively light this week, but data releases, such as Tuesday's report on October existing-home sales, bested expectations.
The major indices have repeatedly hit records in 2017 amid improving earnings and expectations of a tax cut under President Donald Trump.
"After the selloff last week and the week before, we saw buyers coming in," said Quincy Krosby, chief market strategist at Prudential Annuities.
"Today's package of data are showing the economy growing at more than just a solid pace."
Time Warner rose 2.1 percent a day after the Justice Department sued to block AT&T's proposed $85 billion takeover due to antitrust concerns.
AT&T, which fell 0.9 percent, maintains the deal should go through because the proposed transaction is a "vertical" merger and AT&T and Time Warner do not directly compete.
Lowe's, a home-improvement retailer, fell 1.1 percent after reporting that third-quarter revenues rose 6.5 percent to $15.7 billion, boosted in part by hurricane-related spending.
Some analysts said the performance, while good, was less impressive than that of rival Home Depot.
Campbell Soup Company sank 8.2 percent after reporting a 10 percent drop in profits for the quarter ending October 29 to $412 million as it pointed to cutthroat pricing from competitors on soup and higher logistics costs due to US hurricanes.
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