U.S. stocks edged up Tuesday in a choppy trading session that saw modest gains in economically sensitive and growth stocks alike.
The S&P 500 ticked up less than 0.1% in afternoon trading, as shares of home builders, energy stocks and technology companies rose. The gains put the benchmark index on pace to close at its 33rd record of the year—a figure that would tie the number seen in all of 2020.
The Dow Jones Industrial Average also rose, gaining about 25 points, or 0.1%. The Nasdaq Composite likewise edged higher, gaining 0.1% and on pace for its own record high, after wobbling between gains and losses earlier in the day.
Driving Tuesday’s rally was, in part, data from private research group The Conference Board. Its index of consumer confidence rose in June, beating analysts’ expectations. The survey found that consumers’ optimism was lifted by expectations that business conditions will improve and their own incomes will increase in the months ahead.
Additional data released Tuesday also showed that home-price growth climbed to a record high in April. Shares of home builders including PulteGroup and Lennar rallied 2.2% and 1%, respectively.
