Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18347.67		120.74	0.66%
S& P 500	S& P 500 Index	2152.14		14.98	0.70%
NASDAQ	NASDAQ	5022.82		34.18	0.69%

 

Dow, S & P close at record high as Brexit fears ease energy jumps 2 pct

U.S. stocks closed higher Tuesday as fears eased over Brexit and Japan signaled more economic stimulus.

" I think the things that people were worried about, ... sort of faded into the background," said Greg Zappin, managing director and portfolio manager at Penn Mutual Asset Management. " You have a lot of things conspiring to make this a very benign investing environment.

The S & P 500 moved higher in record territory and the Dow Jones industrial average closed at a new all-time high.

The blue-chips index reached the milestone on the heels of the S & P 500 closing at an all-time high Monday. On Tuesday, the Dow closed about 120 points higher, with Goldman Sachs contributing the most gains.

The S & P 500 closed 0.7 percent higher, led by a more than 2 percent rise in energy. U.S. crude settled 4.56 percent higher, at $ 46.80 a barrel, after falling more than 1 percent Monday.

" I think people are getting more comfortable within the growth area of ​ ​ the market," said Robert Pavlik, chief market strategist at Boston Private Wealth. " I definitely see more of a risk-on mentality. People are foregoing the yield plays for the growth parts of the market. "

Meanwhile, in Japan, Prime Minister Shinzo Abe ordered new stimulus after his coalition won an election in Japan' s upper chamber by a landslide. Japan' s Nikkei 225 rose nearly 2.5 percent overnight, while the yen erased all of its post-Brexit gains against the dollar.
" In the short term, I think it' s going to help, but in the long term, we' ll see," said JJ Kinahan, chief strategist at TD Ameritrade. " I feel like a lot of people are getting themselves into situations that they can not get out of. "

" Japan sent a powerful message to the market," said Peter Cardillo, chief market economist at First Standard Financial. " So, the rally continues."

Scheduled speeches by several Federal Reserve officials were also on investors' radar.
St. Louis Fed President James Bullard said in prepared remarks Tuesday he still believe one rate increase will be needed for the foreseeable future. Bullard, a voting member of the US central bank' s rate-setting committee, recently shifted his view of monetary policy, concluding that the US had entered a persistent period of low growth, low inflation, and low unemployment.

Minneapolis Fed President Neel Kashkari and Cleveland Fed President Loretta Mester are scheduled to speak after the market closes.

Ahead of the open, Fed Governor Daniel Tarullo said that better regulation on short-term funding is needed, adding that the U.S. ' post-crisis work is not completed with out such regulations.

" In any case, it will be the speeches of the Dallas Fed' s Robert Kaplan (on Wednesday and Thursday), the Atlanta Fed' s Dennis Lockhart (on Thursday), and the San Francisco Fed' s John Williams (on Friday) that will be the most notable , because they are the centrists on the panel, and likely to thus reflect where the center is moving, " Macquarie analysts said in a Tuesday note to clients.

European stocks traded higher, as the pan-European Stoxx 600 index gained about 1 percent. Asian equities also rose broadly.

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