Banks Big Gainers as Indexes Hit Record Highs

Stocks capped another wobbly day of trading on Wall Street with modest gains Tuesday, as financial and industrial companies helped lift the market, outweighing a pullback in technology stocks. The S&P 500 recovered from an early slip and eked out a 0.1% gain, enough to eclipse the record high it set Friday. The majority of companies in the benchmark index made gains, but they were kept in check by technology companies, which have an outsized weight on the S&P 500, the AP reports. The S&P 500 gained 4.40 points to 4,436.75. The Dow Jones Industrial Average rose 162.82 points, or 0.5%, to an all-time high of 35,264.67. The slide in technology stocks weighed on the tech-heavy Nasdaq, which lost 72.09 points, or 0.5%, to 14,788.09.

Oil prices pulled up after sliding most of the last week and into Monday. US benchmark crude oil rose 2.7% and helped lift the S&P 500's energy sector to 1.7% gain. Exxon Mobil rose 1.7% and Chevron gained 1.8%. Banks made some of the strongest gains as bond yields edged higher. The yield on the 10-year Treasury rose to 1.35% from 1.31% late Monday. Earnings season is wrapping up with several big names. Sysco surged 6.4% after the food distributor reported quarterly results that topped Wall Street's estimates. Ebay will report its results on Wednesday and Walt Disney will report results on Thursday.

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