The S&P 500 and the Nasdaq touched record highs for the second straight day on Tuesday following a spate of upbeat corporate earnings, while Emmanuel Macron's victory in the French presidential election improved risk appetite. Consumer-focused and industrial companies are gaining, but energy stocks are falling.
Energy stocks (-0.9%) dragged along the bottom of the 11 S&P industry groups, as US crude oil fell 1.2% to $45.88/bbl; utilities stocks also declined 0.9%.
Seven of the 11 major S&P sectors were higher, with consumer discretionary rising the most by 0.24 percent.
Marriott International jumped $6.13, or 6.4 percent, to $102.50 after reporting stronger-than-expected earnings for the latest quarter.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday.
In markets overseas, the French CAC 40 fell 0.9 percent.
Europe's markets finished higher, but oil and gold prices lagged almost 1% as the dollar hit a two-month high against the yen and the 10-year yield notched multiweek highs. Energy stocks in the S&P 500 sank 0.9%, tied for the day's biggest drop among the 11 sectors that make up the index.
Nasdaq rises to new record; energy stocks hold back other indexes
YIELDS RISE: Treasury yields rose as bond prices dropped. Markets in South Korea are closed today.
NO FEAR: With prospects brightening for the European Union to hold together and the USA economy to keep chugging along, fear has dissipated from the market. Last week's solid jobs report gave reassurance that the USA economy is improving despite a weak showing at the start of the year. Utilities lost 0.6 percent and real-estate stocks lost 1.1 0.5 percent.
The VIX finished exactly even after closing yesterday at its lowest level since December 1993, pointing to an eerie complacency among investors.
In the commodities market, benchmark USA crude rose 21 cents to settle at $46.43 per barrel.
The euro fell to $1.0869 from $1.0930 late Monday. Brent crude, the global standard, fell 61 cents to $48.73 a barrel.
Shares of Kate Spade rose 8.2 percent to $18.36 after bigger rival Coach Inc said it would buy the company for $2.4 billion. The dollar rose to 113.07 Japanese yen from 112.61 yen.
Natural gas rose 3 cents to $3.21 per 1,000 cubic feet, heating oil fell a penny to $1.45 per gallon and wholesale gasoline slipped 1 cent to $1.51 per gallon.