Wall Street gains on signs of economic recovery, Nasdaq hits record high

Wall Street's three major indexes rose on Tuesday as the pace of decline in business activity slowed, bolstering hopes that the worst of the coronavirus crisis was over.

The Nasdaq hit a fifth record high this month, with Apple Inc providing the biggest boost after at least three brokerages raised their price targets a day after it announced it would use its own chips for Mac computers.

The upbeat data on manufacturing and services sectors follows similar surveys from Europe earlier in the day as businesses reopened after the health crisis resulted in a lockdown in mid-March.

The economically-sensitive financial index rose 1.3