S&P 500 hits record high on tech strength, earnings cheer; Dow up 120 pts

Ten of the 11 major S&P sectors advanced, with consumer discretionary, information technology and financials hitting life-time highs

Gains in Tesla, Nvidia and other heavyweight technology names helped the benchmark S&P 500 index scale a record high on Tuesday, while upbeat results from UPS and GE added to optimism around the third-quarter earnings season.

Tesla Inc rose 1%, extending a record run that helped the electric-car maker surpass $1 trillion in market value on Monday after landing its biggest-ever order from rental car company Hertz.

Nvidia Corp was up 6.8% and hit an all-time high, while gains in mega-cap growth names such as Amazon.com, Apple Inc, Google-owner Alphabet Inc and Microsoft Corp gave a boost to the tech-heavy Nasdaq.

Ten of