(MENAFN- AFP) The S&P 500 crossed 1,900 for the first time Tuesday in early trade after an encouraging report on small-business optimism offset lackluster US retail sales data.
About 50 minutes into trade, the broad-based S&P 500 rose 4.16 points (0.22 percent) to 1,900.81.
The Dow Jones Industrial Average advanced 34.39 (0.21 percent) to 16,729.86, while the tech-rich Nasdaq Composite Index increased 6.28 (0.15 percent) to 4,150.14.
Both the Dow and S&P 500 closed at record highs on Monday.
The Commerce Department reported that US retail and food services sales rose a mere 0.1 percent in April, weaker than the 0.3 percent gain expected by analysts.
But the National Federation of Independent Businesses said its May index of small-business optimism rose 1.8 points to 95.2, the highest rating since 2007 before the Great Recession hit.
Pfizer's chief executive faced tough questioning by a British parliamentary panel over potential job cuts due to its proposed acquisition of British pharmaceutical company AstraZeneca. But the chief of AstraZeneca, which has so far refused to enter merger discussions, would not rule out a deal if terms were changed. Pfizer rose 0.3 percent.
Dow member AT&T is close to a deal to acquire satellite-television provider DirecTV for around $50 billion, US media reported. AT&T fell 1.3 percent, while DirecTV rose 1.4 percent.
Keurig Green Mountain got a lift after Coca-Cola increased its stake in the coffee company from 10 to 16 percent. The two companies are collaborating on a device to make cold drinks at home. Keurig Green Mountain rose 9.6 percent, while Coca-Cola gained 0.9 percent.
Bond prices rose. The yield on the 10-year US Treasury fell to 2.62 percent from 2.66 percent Monday, while the 30-year declined to 3.45 percent from 3.49 percent. Bond prices and yields move inversely.
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