S&P 500 and Nasdaq hit record highs as stocks rise on weaker oil and strong earnings

U.S. stocks climbed on Tuesday, with the S&P 500 and Nasdaq Composite both reaching fresh intraday records as investors responded to lower oil prices and a wave of betterthanexpected corporate earnings. The S&P 500 rose 1%, the Nasdaq gained 1.1%, and the Dow Jones Industrial Average added 391 points, or 0.8%. Oil prices fell sharply, helping support equities, while companies including DuPont, AnheuserBusch InBev and PayPal reported results that topped analysts’ expectations. Market data also showed broad strength beneath the headlines, with dozens of S&P 500 stocks hitting 52week highs. At the same time, several economic reports pointed to a mixed U.S. backdrop, including a strongerthanexpected pace of hiring in March and a services reading that came in slightly below forecasts but stayed in expansion territory.