U.S. stocks rose to fresh record highs on Tuesday, boosted by strong earnings reports from Wal-Mart and Home Depot and continued optimism about the economic agenda of President Donald Trump.
Wal-Mart’s (WMT.N) shares were the top gainer in the Dow Jones Industrial Average, rising 3 percent after the world’s largest retailer reported higher-than-expected U.S. sales.
Home Depot (HD.N) shares gained 1.4 percent after the home improvement retailer reported higher-than-expected quarterly profit and sales, boosted by a strong U.S. housing market.
In broad gains that saw all 11 major S&P 500 sectors close higher, nearly one in every five stocks on the benchmark index hit a new 52-week high.
The S&P has climbed 10.6 percent since Trump’s Nov. 8 election, sparked by the promise of tax reforms, reduced regulations and increased infrastructure spending.
“There was a period last week, I think,…