Stocks Ended Higher, The S&P 500 and Nasdaq Closed at Records

U.S. stocks ended higher on Tuesday, with the S&P 500 and the Nasdaq Composite closing in record territory, as strong earnings and Wall Street optimism bolstered retail and health-care companies. The Dow Jones Industrial Average advanced 145.34 points, or 0.55%, to 26,656.39. The S&P 500 rose 25.71 points, or 0.88%, to 2,933.68. The Nasdaq Composite gained 105.56 points, or 1.32%, to 8,120.82.

Oil climbed for a third straight session on Tuesday to mark another fresh high for the year, as traders reacted to tougher action against Iran’s oil market from the U.S. West Texas Intermediate crude for June delivery added 75 cents, or 1.1%, to settle at $66.30 a barrel. June Brent crude tacked on 47 cents, or 0.6%, at $74.51 a barrel.

Snap Inc (SNAP) reported first quarter earnings on Tuesday that narrowed from a year ago, beating Wall Street’s expectations. The company reported a loss of 10 cents per share, compared with a 17 cent share loss in the comparable year-ago quarter. Revenues were $320.4 million, compared with $230.7 million in the first quarter of 2018.

Texas Instruments Inc. (TXN)’s earnings topped Wall Street estimates. The company reported first-quarter net income of $1.2 million, or $1.26 a share, compared with $1.4 million, or $1.35 a share, in the year-ago period. Revenue declined to $3.59 billion from $3.79 billion in the year-ago quarter.

EBay Inc. (EBAY) reported a first-quarter adjusted profit above Wall Street expectations and raised earnings and sales guidance for the year. EBay said it earned $521 million, or 57 cents a share, in the quarter, compared with $407 million, or 40 cents a share, in the year-ago quarter. Revenue rose 2% to $2.64 billion, compared with $2.58 billion a year ago.