US Stocks Fight Concerns the ‘Pivot Party’ Has Ended – US Market Wrap

US stocks edged higher Tuesday, setting new closing highs ahead of a slew of company reports that promise insight into the global economy.

The S&P 500 and Nasdaq 100 both closed at all-time highs for the second day this week, while the cyclically-oriented Dow Jones Industrial Average fell 0.3%. United Airlines Holdings, Procter & Gamble, and Verizon Communications all rose on positive earnings reports, while 3M and Johnson & Johnson fell after disappointing guidance.

Netflix jumped more than 7% in post-market trading after reporting subscriber growth that exceeded expectations. Investors will also be looking for results from the Republican presidential primary in New Hampshire, where voters will go to the polls.

Despite the Federal Reserve’s warnings that interest rate cuts are a long way off, stocks have largely remained resilient. Instead, investors have celebrated the economy’s resilience despite the most aggressive policy tightening cycle in decades.