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US markets close higher, S&P 500 at record high

US markets closed higher on Tuesday’s trade after couple of companies reported better than expected quarterly results.

The S&P 500 rose 0.3% to hit intraday and closing records, with financials, materials and energy rising more than 1% to lead advancers. The index closed at 2,477.08

The Dow Jones industrial average rose 100.26 points to close at 21,613.43, with Caterpillar and McDonald’s contributing the most gains

The Nasdaq composite rose just 0.02% but managed intraday and closing records. The index finished the session at 6,412.17.

Wall Street also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting.

Investors will parse their statement for clues about the unwinding of their USD 4.5 trillion balance sheet and what the Fed thinks about US inflation.