Dow Jones Industrial Average Closes at a Record High | NBC Connecticut
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Dow Jones Industrial Average Closes at a Record High

The Dow gained 120 points, or 0.7 percent, to 18,347

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    Bloomberg via Getty Images
    A Wall Street sign is displayed in front of the New York Stock Exchange.

    The stock market hit another milestone as the Dow Jones industrial average closed at a record high, a day after the Standard & Poor's 500 index did.

    Both indexes beat marks they set in May 2015. The gains Tuesday were led by energy companies, materials companies and banks.

    David Zalubowski/AP

    Bond prices fell as investors moved money out of lower-risk investments. Safe-haven stocks like utilities and phone companies also fell.

    Company earnings reports got off to a good start. Aluminum maker Alcoa jumped 5 percent after reporting results that beat analysts' forecasts.

    The Dow gained 120 points, or 0.7 percent, to 18,347.

    The S&P 500 climbed 14 points, or 0.7 percent, to 2,152. The Nasdaq composite rose 34 points, or 0.7 percent, to 5,022.

    The Nasdaq erased its losses for the year.