S&P 500 and Nasdaq Finished at Records

U.S. stocks ended higher on Tuesday, with the S&P 500 and Nasdaq notched fresh all-time highs, as investors digested an array of better-than-expected corporate-results. The Dow Jones Industrial Average rose 100.26 points, or 0.47%, to 21,613.43. The S&P 500 gained 7.2 points, or 0.29%, to 2,477.13. The Nasdaq Composite added 1.37 points, or 0.02%, to 6,412.17.

Oil prices rallied Tuesday to settle at their highest level in seven weeks, as fresh pledges from Saudi Arabia and Nigeria to, respectively, reduce crude exports and limit output raised hopes of a market rebalance. September West Texas Intermediate crude rose $1.55, or 3.3%, to settle at $47.89 a barrel. September Brent crude added $1.60, or 3.3%, to $50.20 a barrel.

3M Co. (MMM) reported revenue for the second-quarter that missed Wall Street expectations. Net income for the quarter came in at $1.58 billion, or $2.58 per share, up from $1.29 billion, or $2.08 per share during the same quarter a year ago. Sales for the quarter hit $7.81 billion.

Advanced Micro Devices Inc. (AMD) managed to squeak out an adjusted profit in the second quarter thanks to stronger revenue than expected. The company reported a loss of $16 million, or 2 cents a share, on sales of $1.22 billion for the quarter. After adjusting for stock-based compensation and other effects, the company claimed a profit of 2 cents a share.