U.S. stocks ended the trading session higher Tuesday, with the Nasdaq composite setting yet another record close for the second day in a row. The S&P 500 telecommunications sector was the largest gainer, adding nearly 2 percent.
The Dow Jones Industrial Average (INDEXDJX:.DJI) rose 24.29 points, or 0.13 percent, to close at 18,144.07. The Standard & Poor’s 500 index (INDEXNASDAQ:.IXIC) added 1.35 points, or 0.06 percent, to end at 2,124.20. The Nasdaq composite (INDEXSP:.INX) gained 6.12 points, or 0.12 percent, to finish at a record closing high of 5,160.10.
The Nasdaq also hit an intraday high of 5,163.42, the third time in the last four trading sessions the index has surpassed its all-time record set during the peak of the dot-com bubble era.
Dow component UnitedHealth Group Inc. (NYSE:UNH) led the blue-chip index higher Tuesday, adding 2 percent, while chemical maker DuPont Co. (NYSE:DD) was the biggest laggard in the index, shedding nearly 2 percent.
Shares of BlackBerry Ltd. (NASDAQ:BBRY) fell 4 percent Tuesday after the smartphone maker’s earnings and revenue missed Wall Street estimates. The company announced Tuesday a long-term patent cross-licensing agreement with Cisco Systems.
Economists are looking ahead to Wednesday's third and final revision to the Commerce Department’s U.S. gross domestic product data, released at 8:30 a.m. EDT. The U.S. economy shrank in the first three months of the year, caused in part by a slowdown in shipping due to West Coast port disputes and harsh winter weather.
Economists forecast the U.S. economy contracted at a seasonally adjusted annual rate of 0.2 percent in the first quarter, compared with the Commerce Department’s second estimate in May of 0.8 percent contraction.
Market professionals are also eyeing Greece this week in what could be one of the last chances for Athens to reach a debt deal with creditors before its bailout program expires on June 30.