S&P 500 notches third straight record high close

The S&P 500 climbed to a record high close on Tuesday as investors digested a mixed bag of early quarterly results and awaited a slew of additional reports from Tesla and other companies later this week.

It was the third straight all-time high for the benchmark stock index, and many investors view upcoming quarterly reports from the heavily weighted “Magnificent 7” group of megacap companies as key to whether Wall Street’s recent rally continues or loses steam.

“It’s a crescendo of reports tomorrow and Thursday, and then next week will be even busier,” said Art Hogan, chief market strategist at B. Riley Wealth. “We’ve got a lot of things to contemplate over the course of this week and next that will likely will end up being a market positive.”

In extended trade, Netflix, opens new tab rallied 3.2% after the video streaming service blew past Wall Street subscriber estimates in the fourth quarter, driven by a strong slate of shows.


continue reading »