The Dow Jones Industrial Average continued climbing Tuesday, powered by cyclical stocks like manufacturers and energy companies that are particularly sensitive to the economy’s trajectory.
The blue-chip index outpaced the broader S&P 500 and Nasdaq Composite Index for a second consecutive day as investors reordered the market’s winners and losers.
The Dow has outperformed the technology-heavy Nasdaq by 6.74 percentage points this week, the largest two-day performance spread since March 2001. It rose 262.95 points, or 0.9%, to 29420.92 on Tuesday, its third-highest close in history. Boeing, Chevron and 3M were among the biggest gainers.
The Nasdaq Composite, meanwhile, fell 159.53 points, or 1.4%, to 11553.86, with the big technology stocks that have powered much of this year’s stock rally pulling back for a second consecutive session.
The S&P 500 edged down 4.97 points, or 0.1%, to 3545.53.