S&P 500 and Nasdaq rally to record closing highs after strong earnings from broad range of companies

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S&P 500 and Nasdaq rally to record closing highs after strong earnings from broad range of companies
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The S&P 500 and Nasdaq both closed at record highs today. The S&P 500 closed at 2,933.62, breaking the previous record of 2,930.75.

The S&P 500 and Nasdaq Composite rallied on Tuesday to notch record closing highs as Wall Street cheered stronger-than-expected quarterly profits from some of the largest publicly traded U.S. companies.

Tuesday's move toward an all-time closing high comes less than six months after a sharp decline in late December, which led the S&P 500 to its worst annual performance since 2008. But stocks quickly turned around as the Federal Reserve reversed course on monetary policy while the tone around U.S.-China trade talks improved."These market levels are justified," said Kevin Barry, chief investment officer at Captrust Advisors.

Twitter shares jumped 15.6% on its stronger-than-expected results. The social media company said its monthly active users totaled 330 million, more than a FactSet estimate of 318 million. So far, the results have largely topped expectations. More than 78% of the S&P 500 companies that have reported have surpassed analyst expectations, according to FactSet data.

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