The stock market pushed to all-time highs at the close Tuesday in a broad-based rally capped off with a leading 1.7% rise in the Russell 2000.
The Nasdaq rallied 0.9%, reaching a new all-time high, while the S&P 500 and Dow Jones industrial average both followed up with 0.6% gains, moving the blue-chip index within striking distance of 20,000.
Volume was tracking much higher across both the NYSE and Nasdaq, according to preliminary figures.
DuPont (DD) led the industrials higher after reporting an earnings beat on Monday after the market close. Despite missing on revenue estimates, the stock gained 4.5%, reaching a new 52-week high.
On the downside, Verizon Communications (VZ) dropped over 4% following its quarterly earnings release.
Alibaba (BABA) gained 3% after being up as much as 5% in the premarket hours. The Chinese e-commerce giant reported blowout earnings and sales earlier this morning. The stock is building the right side of a base.
Miners and construction stocks were acting particularly well in the stock market today.
Freeport-McMoRan (FCX), a Leaderboard member, soared over 8%, gapping above a 16.04 cup-with-handle buy point seen on the daily chart. The copper mining company reports its quarterly earnings on Wednesday, before the market open.
MasTec (MTZ) surged nearly 11% and reclaimed its 50-day line, where it had been fighting for support for the last several weeks. The stock is now about 1% away from a short cup-shaped base's entry at 41.
Meanwhile, the lagging sector was medical.
Merck (MRK), Pfizer (PFE), and Johnson & Johnson (JNJ), all fell 1% to 2%.
Johnson & Johnson provided a cautious outlook for 2017 with earnings and revenues that fell short of the Street's estimates.
IBD 50 Action: Broadcom Advances, HealthEquity Falls
Leading growth stocks in the IBD 50 were very positive at the close with only four stocks in the red.
Broadcom (AVGO) continued its recent dominance and was one of the leading stocks within the IBD 50, tacking on 3.5% to its recent gains. The stock is now extended above a 179.52 flat base entry.
On the downside, HealthEquity (HQY) was volatile but closed with a minor change. The leading health savings account provider is now at the top of its buy range. The stock broke out of a flat base with a 45.10 entry on surging volume. The stock was initiated with an overweight rating by Keybanc on Monday after the close.
After The Close
Hawaiian Holdings (HA) and Steel Dynamics (STLD), among others, reported their quarterly results after the close.
Hawaiian Holdings, the parent of Hawaiian Airlines, met its quarterly earnings estimate, which was for Q4 EPS of $1.28, and surpassed revenue estimates. Shares fell almost 2% after hours.
Steel Dynamics, the steel producer, had not announced. It is estimated to report Q4 EPS of 43 cents.
Intuitive Surgical (ISRG) topped Q4 earnings and sales estimates. Shares rose 1.5%. Texas Instruments (TXN) beat expectations on both top- and bottom-line estimates. Shares edged about 1% lower.
Seagate's (STX) quarterly earnings exceeded the Street's views on its earnings and sales figures. Shares gained an additional 4.8% after rising 3% in the regular market hours.
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