How major US stock indexes fared Tuesday, 7/16/2024

U.S. stocks rose to records after several big companies delivered better-than-expected profits for the spring.

The S&P 500 climbed 0.6% Tuesday to top its all-time high set last week. The Dow Jones Industrial Average leaped 1.8% a day after setting its own record, and the Nasdaq composite added 0.2%.

UnitedHealth Group drove the market after reporting stronger results than expected, while smaller stocks jumped amid a widespread rally that broadened beyond the Big Tech stocks that led for much of the year. A report showed sales at U.S. retailers held firmer than expected, but that didn’t dampen expectations for coming cuts to interest rates.

On Tuesday:

The S&P 500 rose 35.98 points, or 0.6%, to 5,667.20.

The Dow Jones Industrial Average rose 742.76 points, or 1.8% to 40,954.48.

The Nasdaq composite rose 36.77 points, or 0.2%, to 18,509.34.

The Russell 2000 index of smaller companies rose 76.65 points, or 3.5%, to 2,263.67.

For the week:

The S&P 500 is up 51.85 points, or 0.9%.

The Dow is up 953.58 points, or 2.4%.

The Nasdaq is up 110.89 points, or 0.6%.

The Russell 2000 is up 115.41 points, or 5.4%.

For the year:

The S&P 500 is up 897.37 points, or 18.8%.

The Dow is up 3,264.94 points, or 8.7%.

The Nasdaq is up 3,497.99 points, or 23.3%.

The Russell 2000 is up 236.60 points, or 11.7%.