The market’s biggest winners this year, technology and health care, powered stock indexes to more all-time highs on Tuesday.
Huge technology companies like Apple and Facebook continued their ascent, while strong reports from companies including medical device maker Medtronic and construction and technical services company Jacobs Engineering helped health care and industrial companies, respectively.
Basic materials companies, which have done better than the rest of the Standard & Poor’s 500 index, also rose. Telecommunications companies declined, while energy companies and banks didn’t do as well as the rest of the market.
Apple, Facebook, Alphabet, Microsoft and Amazon, the five most valuable companies on the stock market, all rose more than 1 percent, and they’ve all had a very strong year. JJ Kinahan, chief market strategist at TD Ameritrade, said that’s not about to stop.
“They’re seeing better earnings, better sales, better growth,” he said. “It’s difficult to argue with that.”
The S&P 500 index climbed 16.89 points, or 0.7 percent, to 2,599.03. The Dow Jones industrial average gained 160.50 points, or 0.7 percent, to 23,590.83. The Nasdaq composite added 71.77 points, or 1.1 percent, to 6,862.48.
All three indexes set records.
Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.37 percent.