Dow, S&P 500, Nasdaq close at record highs

NEW YORK (AFP) – Wall Street stocks jumped to fresh records Tuesday, boosted by financial shares that led a rally on easing fears over North Korea and US hurricanes.

All three major indices finished at new all-time highs, with the Dow Jones Industrial Average gaining 0.3 percent to 22,118.86, less than a point above the prior peak.

The S&P 500 advanced 0.4 percent to 2,496.48, its second straight record, while the Nasdaq Composite Index rose 0.3 percent to 6,454.28.

The gains came on the heels of a solid rally Monday after Hurricane Irma caused less damage in Florida than feared, and as anxiety about North Korea’s nuclear program diminished. Those dynamics were still in play Tuesday, analysts said.

“You’ve seen that fear unwind,’’ said David Levy, portfolio manager at Republic Wealth Advisors.

Banks were big beneficiaries of the improved sentiment, with JPMorgan Chase advancing 1.3 percent and Goldman Sachs 2.2 percent despite statements from bank executives reporting weakness in the trading business.

Analysts also described relief that September, historically a weak month for stocks, has not so far produced a big pullback.

“Investors with a lot of cash have to put some money to work,’’ Karl Haeling of LBBW. ‘’They can’t afford to miss more of the rally.’’