Wall Street Gains as Nasdaq Rises Above 6,000



U.S. equities advanced sharply as strong quarterly reports from numerous big-cap firms followed through. The Nasdaq Composite reached a record peak, while the Dow and S&P 500 were also near recent highs as solid earnings highlighted the health of corporate America.

The Dow Jones industrial average climbed 1.12 percent at 20,996.12, as Caterpillar led gains while Verizon was the top decliner. The S&P 500 rose 0.61 percent at 2,388.61, as materials led nine sectors up while telecommunications and utilities lagged behind. The Nasdaq composite advanced 0.7 percent at 6,025.49.

Caterpillar jumped 7.7 percent at $104.29 after earlier notching a multi-year peak of $104.71 while Mcdonald's bounced 5.6 percent to $141.71, both after exceeding profit estimates.

According to Thomson Reuters, total profits of S&P 500 firms are estimated to have increased 11 percent during the first quarter, the most since 2011.

The Nasdaq scaled a record level of 6,036.02, breaking 6,000 for the first time, powered by advances in index heavyweights Apple and Microsoft. The S&P 500 notched its day's peak after a report that U.S. President Donald Trump's tax proposal will be expected on Wednesday.

News are provided byInstaForex.