S&P 500, Nasdaq end at record highs as banks lead rally

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The Nasdaq Composite was up for a third time in four days, just a few points shy of its own all-time peak, as Apple (AAPL) advanced 1.8% ahead of its product release event Tuesday, where a new iPhone is widely expected to be among a slate of products unveiled.

The benchmark USA indices on Monday surged in widespread relief rally, with the Standard & Poor's 500 hitting a record high on gains across all of its 11 sectors as Irma's downgrade to a tropical storm and easing fears on North Korea prompted a risk-on tone for investors.

Wall Street was in the green on Tuesday with bank stocks rising.

"It's a better environment for risk assets".

The Dow added 61.49 points or 0.28 percent to 22,118.86, while the NASDAQ gained 22.02 points or 0.34 percent to 6,454.28 and the S&P was up 8.37 points or 0.34 percent to 2,496.48.

Census Bureau: Fewer Uninsured Americans In 2016 Than In Prior Years
The data shows that 2016 was the third straight year the bureau found a decline in the share of people without health insurance. For non-expansion states, the rates ranged from 5.3 percent in Wisconsin to 16.6 percent in Texas.


Concerns around Hurricane Irma's impact receded as it weakened to a tropical depression, while investors shrugged off fresh developments related to North Korea.

"A lot of it is the realization that the latest hurricane wasn't as devastating in the U.S.as people feared", said Tim Ghriskey, chief investment officer of Solaris Asset Management in NY. October WTI oil was up 16 cents or 0.3 percent to $48.23/bbl. Apple's release date of November 3 was later than some investors had expected. That helped lift the information technology sector up 1.5% on the S&P. Investors in banks, whose profits are boosted in part by higher rates, were reacting to a jump in U.S. Treasury 10-year yields to a three-week high after a 10-year note auction.

Shares in Goldman Sachs increased by more than 2%, after the firm discussed a growth plan meant to drive revenue gains in coming years.

Financials rose more than 1 percent, with numerous biggest banks gaining between 1 percent and more than 3 percent.

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