Stocks closed higher on Wall Street after several big companies reported solid earnings, the AP reports. The gains Tuesday were enough to send the Nasdaq composite index above 6,000 points for the first time. Materials and energy companies rose more than the rest of the market. Caterpillar rose 7.9% and McDonald's jumped 5.6%, while biotech drug maker Biogen rose 3.6%.
The Standard & Poor's 500 rose 14 points, or 0.6%, to 2,388. The Dow Jones industrials gained 232 points, or 1.1%, to 20,996. The Nasdaq increased 41 points, or 0.7%, to 6,025. Bond prices fell. The yield on the 10-year Treasury note rose to 2.33%.