Stocks hit record high, eclipsing pre-coronavirus peaks  <font color="#6f6f6f">Fox Business</font>

Stocks hit record highs on Tuesday following strong housing data and better-than-expected retail earnings.

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The S&P 500 climbed as much as 0.39%, eclipsing its intraday high of 3,393.52, before turning lower. The benchmark index needs to finish above 3,386.15 to close at a record peak.

Meanwhile, the Nasdaq Composite gained as much as 0.7%, touching its own record high, and the Dow Jones Industrial Average climbed 0.17% before both indexes pared their gains.

Ticker Security Last Change Change %
SP500 S&P 500 3390.79 +8.80 +0.26%
I:COMP NASDAQ COMPOSITE INDEX 11222.371438 +92.65 +0.83%
I:DJI DOW JONES AVERAGES 27782.74 -62.17 -0.22%

Looking at the economy, housing starts rose 23% to a seasonally adjusted annualized rate of 1.496 million, beating the 1.24 million that was anticipated by analysts surveyed by Refinitiv. Building permits, meanwhile, climbed 19% to 1.495 million, ahead of the 1.32 million that was expected.

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The results sent shares of homebuilders, like Toll Brothers Inc., Pulte Group and Lennar Corp. higher.

Ticker Security Last Change Change %
TOL TOLL BROTHERS 42.77 +0.62 +1.47%
PHM PULTE CORPORATION 46.56 +0.13 +0.28%
LEN LENNAR 77.35 +0.28 +0.36%

On the earnings front, Dow component Home Depot Inc. reported better-than-expected top and bottom lines as U.S. comparable sales rose 25% from a year ago.

Fellow Dow member Walmart Inc. said online sales rose 97% versus last year, helping drive a 79% jump in profit.

Ticker Security Last Change Change %
HD THE HOME DEPOT INC. 285.32 -2.92 -1.01%
WMT WALMART INC. 134.58 -1.02 -0.75%
BJ BJS WHSL CLUB HLDGS INC 43.59 +0.82 +1.92%
BABA ALIBABA GROUP HOLDING LTD 260.81 +3.85 +1.50%

BJ’s Wholesale Club Inc. and Alibaba Group are among the companies reporting ahead of Wednesday’s opening bell.

Meanwhile, Boeing job cuts will extend beyond its initial plan to eliminate 10% of its workforce. The company is offering workers, mostly in its commercial airplanes unit, services division and corporate operation, a second voluntary layoff opportunity.

Oracle is in talks to acquire the U.S., Canadian, Australian and New Zealand assets of the social-media app TikTok from Chinese owner ByteDance, according to CNBC, citing a person familiar with the matter.

Ticker Security Last Change Change %
BA BOEING COMPANY 170.38 -1.62 -0.94%
ORCL ORACLE CORPORATION 55.06 +1.07 +1.99%
TSLA TESLA INC. 1,899.20 +63.56 +3.46%

Elsewhere, Tesla shares continued to zoom higher, and were trading above $1,900 apiece for the first time.

Looking at commodities, gold climbed $14.40 to $1,999.40 an ounce while West Texas Intermediate crude oil slid was unchanged at $42.89 a barrel.

U.S. Treasurys were little changed with the yield on the 10-year note holding near 0.68%.

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In Europe, Germany’s DAX lost 0.3% while France’s CAC and Britain’s FTSE fell 0.68% and 0.83%, respectively.

Asian markets finished mixed with China’s Shanghai Composite adding 0.36%, Hong Kong’s Hang Seng edging up 0.08% and Japan’s Nikkei slipping 0.2%.