S&P 500 notches third straight record high close

economictimes.indiatimes.com:

record high close on Tuesday as investors digested a mixed bag of early quarterly results and awaited a slew of additional reports from Tesla and other companies later this week.

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It was the third straight all-time high for the benchmark stock index, and many investors view upcoming quarterly reports from the heavily weighted «Magnificent 7» group of megacap companies as key to whether Wall Street's recent rally continues or loses steam.

«It's a crescendo of reports tomorrow and Thursday, and then next week will be even busier,» said Art Hogan, chief market strategist at B. Riley Wealth. «We've got a lot of things to contemplate over the course of this week and next that will likely will end up being a market positive.»

In extended trade, Netflix rallied 3.2% after the video streaming service blew past Wall Street subscriber estimates in the fourth quarter, driven by a strong slate of shows.

The S&P 500 climbed 0.29% to end the session at 4,864.59 points.

The Nasdaq gained 0.43% to 15,425.94 points, while Dow Jones Industrial Average declined 0.25% to 37,905.45 points.

Verizon Communications rallied 6.7% after forecasting a strong annual profit and posting its highest quarterly subscriber additions in nearly two years, while Procter & Gamble gained 4.2% after it topped second-quarter profit expectations.

3M tumbled 11% after forecasting dour annual earnings, while Johnson & Johnson dipped 1.6% after reporting quarterly results just above expectations.

D.R. Horton dropped over 9% after the homebuilder missed estimates for first-quarter profit.

Tesla climbed 0.2% ahead of its report late on Wednesday.

Analysts on average see S&P 500 fourth-quarter