S&P 500 nears high as stocks rise

The Standard & Poor’s 500 index briefly traded at an all-time high Tuesday as the U.S. stock market’s bull run came closer to becoming the longest on record.

The benchmark index eked out a slight gain, closing a little below the recordhigh closing price it set in January. The rally pushed the Russell 2000 index of smaller-company stocks to a record high.

The current bull market, which began in 2009, is on track to become the longest in history Wednesday, according to S&P Dow Jones Indices.

Tuesday’s gains were driven by strong earnings reports from home builders, retailers and other firms.

The S&P 500 rose 5.91 points, or 0.2%, to 2,862.96. The Dow Jones industrial average rose 63.60 points, or 0.2%, to 25,822.29. The Nasdaq composite climbed 38.17 points, or 0.5%, to 7,859.17. The Russell 2000 jumped 19.35 points, or 1.1%, to 1,718.05.

In midday trading, the S&P 500 briefly topped its all-time closing high of 2,872 set Jan. 26. The market took a steep plunge in early February and has been mostly clawing higher since then, thanks to a still-recovering economy and a boom in corporate profits.

Stocks have been buffeted by concerns about mounting trade tensions this spring and summer. Signs of potential progress have helped stocks rally in recent weeks.

On Tuesday, Toll Bros. shares leaped 13.8% to $39.52 after the luxury home builder posted earnings that handily beat analyst expectations. Other home builders also got a boost.

TJX climbed 4.7% to $106.46 after the operator of T.J. Maxx and Marshalls delivered quarterly results that impressed investors.

Medtronic climbed 5.7% to $95.17 after the medical technology firm’s quarterly results beat projections.

Discount brokers slid after CNBC reported JPMorgan Chase will offer free online trading. TD Ameritrade slumped 7.1% to $55.88.

J.M. Smucker fell 6.6% to $108.20 after the maker of Jif peanut butter and Crisco cooking oil reported quarterly results that fell short of analyst estimates. The company also trimmed its outlook for the year.

U.S. benchmark crude rose 1.4% to $67.35 a barrel. Brent crude rose 0.6% to $72.63 a barrel. Heating oil rose 0.5% to $2.12 a gallon. Wholesale gasoline edged up 0.1% to $2.02 a gallon. Natural gas rose 1.3% to $2.98 per 1,000 cubic feet.

Bond prices fell. The yield on the 10-year Treasury rose to 2.84% from 2.82%.

The dollar rose to 110.40 yen from 110.23 yen. The euro rose to $1.1574 from $1.1467.

Gold rose 0.5% to $1,200 an ounce. Silver rose 0.7% to $14.77 an ounce. Copper rose 0.9% to $2.71 a pound.