(Reuters) - The S&P 500 climbed to an all-time high on Tuesday on a heavy day of corporate results highlighted by well-received reports from McDonald's and Caterpillar and gains for bank shares.
consumer confidence amid optimism over the labor market added to the bullish sentiment.
The Dow Jones Industrial Average .DJI rose 100.26 points, or 0.47 percent, to 21,613.43, the S&P 500 .SPX gained 7.17 points, or 0.29 percent, to 2,477.08 and the Nasdaq Composite .IXIC added 1.37 points, or 0.02 percent, to 6,412.17.
The market's run to record highs, including a 10.7 percent rise for the S&P 500 in 2017, has left equities relatively expensive and investors counting on earnings to justify the valuations.
With more than one-fourth of the S&P 500 having reported results, earnings are now expected to have climbed 9.1 percent in the second quarter, up from a projection of an 8-percent rise at the start of the month, according to Thomson Reuters I/B/E/S.