S&P 500, Nasdaq hit record highs on earnings boost; Fed angst prevails

Published by
Reuters

By Devik Jain and Shashank Nayar (Reuters) – The S&P 500 and the Nasdaq indexes hit record highs on Tuesday, helped by a slew of strong earnings reports, although gains were limited as investors remained cautious ahead of the Federal Reserve’s widely expected move to start tapering its monthly bond purchases. Shares of Under Armour Inc jumped 17.3% after the athletic apparel maker raised its annual revenue and profit forecasts. Simon Property Group added 5.2% after the mall operator raised its 2021 forecast for profit and quarterly dividend. Arista Networks surged 23.5% to scale new peak as br…

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