The large-cap S&P 500 Index (NYSEARCA:SPY) rose 7.29 points or 0.3% to close at 2,137.16.
"I certainly think (low bond yields) are creating problems in the bond-like stocks". The Dow Jones industrial average is just shy of its own record, which was also reached in May 2015, but the Nasdaq composite index would need to rise nearly 5 percent to regain the peak it reached last July.
Alcoa reported a smaller-than-expected drop in quarterly profit, sending the aluminum producer's shares up 4.7 per cent and helping boost optimism about the earnings season.
Stocks have crawled their way back into record territory after beginning 2016 with Wall Street's worst start ever to a year and the S&P 500 has jumped more than 16% since its February 11 closing low.
Amazon: Shares in Amazon.com, Inc. closed up 1 percent Monday as the e-commerce site prepares for Prime Day, its annual sales event for Amazon Prime customers, on Tuesday. As the new year commenced, stocks tumbled for weeks as investors fretted over the strength of China's economy and falling oil prices. In other energy trading in NY, wholesale gasoline rose 1 cent to $1.38 a gallon, heating oil was flat at $1.42 a gallon and natural gas dropped 10 cents, or 3.5 percent, to $2.70 percent. Also, the turmoil overseas has made US markets a relative safe haven for investors, analysts said. Overall, the news from corporate America is not expected to be good, with analysts estimating S&P 500 will be down 5.2% overall from a year earlier.
ENERGY: Benchmark U.S. crude fell 25 cents to $45.16 a barrel in NY.
USA -listed shares of Shire PLC ( SHPG ) rose 5% ahead of the bell after US health regulators approved its dry-eye treatment (http://www.marketwatch.com/story/shires-dry-eye-treatment-wins-fda-approval-2016-07-11), a potential blockbuster drug that is expected to go on sale in the third quarter. Britain's FTSE 100 was up 0.2 percent to 6,695.74.
Japan's Nikkei Stock Average closed 2.5% higher Tuesday after a 4% gain on Monday on continued hopes for fiscal stimulus and a weaker yen. Investors are betting he'll keep flooding the market with money by expanding bond purchases. The Nasdaq composite rose 38 points, or 0.8 percent, to 5,027. Southwestern Energy jumped 11 percent, adding $1.47 to $14.37. Brent crude, a standard for global oil prices, rose $2.22 to $48.47 a barrel in London.
Thomson Reuters Corp. rose 1.4 percent after agreeing to sell its Intellectual Property & Science division to Onex Corp. and Baring Private Equity Asia for $3.55 billion in cash, shedding the unit to focus on its core financial products.
That gave a push to the gauge which measures the range by which the US economic data is moving beyond forecasts towards the highs in one year or more.
CURRENCIES: The dollar rose to 103.09 yen from 102.61 yen in late trading Monday.
Gold futures for August delivery fell $1.80 (£1.39;€1.63) to $1,356.60 (£1,044.22;€1,226.80) an ounce.