S&P 500, Nasdaq Close at Record Highs

The S&P 500 index is closing at a record high, surpassing the peak it set last September and recouping all the ground it lost in a nosedive late last year. The Nasdaq index also closed at a record high Tuesday, the AP reports. The market has risen sharply since bottoming out on Christmas Eve, driven by greater confidence in the economy and reassurances that the Federal Reserve is unlikely to raise interest rates this year. The gains Tuesday came as big US companies began turning in solid results for the first quarter. Hasbro soared 14.2% and Twitter jumped 15.6%. The S&P 500 rose 25 points, or 0.9%, to 2,933. The Dow Jones Industrial Average rose 145 points, or 0.5%, to 26,656. The Nasdaq added 105 points, or 1.3%, to 8,120. (More stock market stories.)