Stocks Rally; Dow Jones and S&P 500 Close at New Record Highs
Stocks rallied on Tuesday, with the Dow Jones and the S&P 500 closing at fresh record highs, as comments from hedge fund manager David Tepper lifted market sentiment. Speaking to CNBC, Tepper, who is the head of Appaloosa Management, said that he is definitely bullish on stocks.
The Dow Jones ended the day 0.82% higher at 15,215.25, the S&P 500 ended the day 1.01% higher at 1,650.34, and the Nasdaq ended the day 0.69% higher at 3,462.61.
All sectors in the S&P 500 edged higher. The gains were led by Healthcare sector, which ended the day 1.36% higher. Transportation sector also rose sharply, ending the day 1.33% higher. Industrials ended the day 1.29% higher.
Among the major movers in trading on Tuesday were Sony Corporation (ADR) (NYSE: SNE), which ended the day 9.90% higher at $20.76, Sodastream International Ltd. (NASDAQ: SODA), which ended the day 11.85% higher at $64.08, and Apple Inc. (NASDAQ: AAPL), which ended the day 2.39% lower at $443.86.
On the economic front, a report showed that import prices fell 0.5%, while export prices fell 0.7%, in the month of March. The National Federation of Independent Business, meanwhile, reported that its sentiment index rose in April.
European markets ended mostly higher on Tuesday, with the FTSE 100 Index in London closing 0.82% higher, and the CAC 40 Index in Paris closing 0.53% higher. Asian markets ended mostly lower overnight, with the Nikkei 225 Index in Japan closing 0.16% lower, and the Hang Seng Index in Hong Kong closing 0.26% lower.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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