Dow Jones Reaches All-Time High Amid Positive Retail Sales Data

The Dow Jones Industrial Average hit a record high after U.S. retail sales data boosted the Federal Reserve's easing cycle narrative. The S&P 500 also rose, but the Nasdaq's gains were capped by weaker tech stocks. Small caps and value stocks outperformed, amid economic resilience and strong earnings reports.

The Dow Jones Industrial Average soared to an all-time closing high on Tuesday, fueled by strong U.S. retail sales data that bolstered the narrative of the Federal Reserve nearing its easing cycle.

While the S&P 500 also climbed, the tech-heavy Nasdaq's gains were subdued due to weaker performances by Nvidia Corp and Microsoft Corp. Meanwhile, economically sensitive small caps extended their rally, with the Russell 2000 marking its longest winning streak since April 2000.

Dow transportation stocks outshone broader indexes, as investors turned their focus to undervalued market segments. Value stocks, generally underperforming relative to growth peers, saw a sharp rise.

(With inputs from agencies.)