Stocks Jumped as Banks Led to New Highs

U.S. stocks closed to fresh highs on Tuesday as Wall Street embraced the view of a still-improving economy. The Dow Jones  industrial average rose 123.57 points, or 0.82 percent, to 15,215.25. The Standard & Poor’s 500 Index climbed 16.57 points, or 1.01 percent, to 1,650.34. The Nasdaq Composite Index advanced 23.82 points, or 0.69 percent, to 3,462.61.

The budget deficit for the current year is projected to come in well below what was estimated just a few months ago, according to a government study released Tuesday. The budget office now predicts a 2013 budget deficit of $642 billion, more than $200 billion below its February estimate.

Boeing Co (BA.N) said it resumed deliveries of 787 Dreamliners on Tuesday, ending a period of nearly four months in which it was unable to provide new planes to customers.

Struggling personal computer maker Dell will report its latest quarterly earnings ahead of schedule in a move likely to spur speculation that the results will be dismal.

Agilent Technologies Inc. (A) said late Tuesday its fiscal second-quarter net income fell to $166 million, or 48 cents a share, from $255 million, or 72 cents a share, in the year-ago period.

Warner Music Group Corp. posted its first profit in more than four years on Tuesday. Net income in Warner Music’s fiscal second quarter, which ran through March 31, came to $2 million, reversing a $36 million loss in the same months a year ago. Revenue grew 8 percent to $675 million, with digital revenue up 20 percent to $281 million.