The Dow Jones industrial average has now climbed for eight straight sessions, its longest winning streak since February 2011. The blue chip index finished the day up 3 points, at a record high of 14,405.06. Earlier in the day, the Dow reached a fresh intraday record above 14,470.
Stocks have been supported by better-than-expected economic data and signs the Federal Reserve will keep its stimulus policies in place for some time.
But with all three major U.S. indexes up between 7% and 10% so far this year, analysts say a pullback at this stage shouldn't come as much of a surprise and should be considered healthy.
Meanwhile, in the continuing saga of Washington's budget wars, House Budget Committee Chairman Paul Ryan released his budget proposal Tuesday.
Costco (Fortune 500) shares rose after the bulk retailer announced better-than-expected earnings for its fiscal second quarter, although its revenue increase came in short of forecasts. ,
Shares of Cabela ( spiked after the sporting goods retailer issued strong earnings guidance. )
Best Buy (Fortune 500) shares were also higher after Goldman Sachs resumed coverage of the stock with a buy recommendation. ,
Urban Outfitters ( shares gained even after the company reported earnings just short of analysts' forecasts for the third time in the last five quarters. )
Apple (Fortune 500) shares edged lower after a late-day spike Monday. Worries about slowing demand for the iPhone 5 and what Apple plans to do with all its cash has been pressuring the stock. On Tuesday, Jefferies analyst Peter Misek , lowered his price target to $420 from $500
The dollar rose versus the British pound but fell against the euro and the Japanese yen.
Oil and gold prices gained almost 1%.
The price on the 10-year Treasury rose, pushing the yield down to 2.02% from 2.06% late Monday.
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