The S&P 500 and Nasdaq set record highs on Tuesday in a broad rally led by financial and technology stocks. Bobbi Rebell reports.
The S&P 500 and Nasdaq set record highs on Tuesday in a broad rally led by financial and technology stocks. Investors starting to get more clarity on Trump's economic policies and sorting through quarterly earnings reports. Meridian Equity Partners Jonathan Corpina: SOUNDBITE: JONATHAN CORPINA, SENIOR MANAGING PARTNER, MERIDIAN EQUITY PARTNERS, (ENGLISH) SAYING: "We've got interest rates going higher. We've got oil prices going higher. We've got a new administration. We've got Brexit. We've got China. There are so many different issues out there that all of these companies have some or most of their exposure to that can really change the way that they are going to be profitable or not in the future, so it's more of not what have these companies done yesterday. It's what are they going to do tomorrow. " U.S. President Donald Trump signed two executive orders on Tuesday to move forward with construction of the controversial Keystone XL and Dakota Access oil pipelines lifting shares of ETP, the company building the Dakota line, and of TransCanada, the firm behind the Keystone project. Yahoo shares rose after the company reported better-than-expected quarterly profit and revenue and said the sale of its core internet business to Verizon should be completed in the second quarter. Verizon quarterly profits missed estimates and the company added fewer subscribers than anticipated. In Europe, the major country indexes were mostly higher as earnings season got underway.