At the close of trade, the Dow Jones Industrial Average index rose 9.02 points, or 0.02%, to 34,292. The S&P 500 index added 1.19 points, or 0.03%, at 4,292. The tech-heavy Nasdaq Composite Index climbed up 27.83 points, or 0.19%, to 14,528.
Total 8 of 11 S&P 500 sectors closed down, with utilities (down 1.65%) declined the most, followed by communication services (down 0.52%), energy (down 0.5%), consumer staples (down 0.41%), and financials (down 0.33%) sectors, while information technology (up 0.7%) sector was top gainer, followed by consumer discretionary (up 0.23%) sectors.
Stocks have set their recent records on optimism that the economy is strengthening and that the Federal Reserve will keep interest rates low for a while longer.
A report released Tuesday morning showed a measure of confidence among U.S. consumers jumped to its highest level in nearly 1-1/2 years in June as growing labor market optimism amid a reopening economy offset concerns about higher inflation. The Conference Board's consumer confidence index raced to a reading of 127.3 this month, the highest level since February 2020, from 120.0 in May.
A separate report showed that home prices across the country rose again in April, continuing their blistering pace. The S&P Case-Shiller national home price index, which covers all nine US census divisions, rose 14.6 per cent year on year in April, data on Tuesday showed. That followed a 13.3 per cent annual jump in March
Technology stocks led the market higher in Tuesday's trading session, as the reopening trade continued to cool down as the yield of 10-Year US Treasuries remained below 1.50%.
Shares of lenders were higher after US banks have authorized up to $20 billion in new stock buybacks and increased their quarterly dividend payments by a combined $2 billion after Fed stress tests showed that they could withstand a financial crisis. Morgan Stanley rose 3.4% after announcing a doubling of its dividend and plans to buy back $12 billion of its own stock.
Among Indian ADR, Tata Motors fell 0.31% to $22.83, Wipro fell 0.25% to $7.85, ICICI Bank fell 1.71% to $17.24, Vedanta fell 0.91% to $14.22, and HDFC Bank fell 0.65% to $73.87, Dr Reddys Labs was up 0.57% to $73.46, INFOSYS added 0.75% to $21.45, and WNS Holdings added 0.01% to $81.01.
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