Stocks climbed on Tuesday, with the Dow touching an all-time high and the S&P 500 closing at a record above 2,000 after the government reported orders for durable goods, such as toasters, washing machines and aircraft, jumped more than expected. The Dow Jones Industrial Average, which hit an intraday high over 17,150 during the session, pulled back to close unofficially 29 points up at 17,106.70. The S&P 500 rose 2 points to end the session at a record 2,000.02, while the Nasdaq added 13 points. "There's an expectation that times are good and are going to get better, and that this economy has legs," said Brad McMillan, chief investment officer at Commonwealth Financial. The Commerce Department reported orders for durable goods rose 22.6 percent last month versus a 7.5 percent estimate. Another report had home prices rising at a slower rate in the year ending in June, with the S&P/Case-Shiller index of property values increasing 8.1 percent from June 2013. And a measure of consumer confidence hit 92.4 in August, exceeding estimates of 89.
- Kate Gibson, CNBC.com
First published August 26 2014, 6:50 AM