Stocks hit records as profits rise and job market holds firm

The U.S. stock market rallied to record highs Tuesday as corporate profits kept climbing and oil prices eased. The S&P 500 rose 1.8%, topping its previous all-time high set in June, while the Dow Jones Industrial Average added 1.7% to a record set a day earlier. The Nasdaq composite jumped 2.6%.

Stronger-than-expected spring profits helped drive the gains. Brent crude fell below $80 a barrel, which also helped ease Treasury yields in the bond market.

Separately, the Labor Department reported that U.S. job openings slipped to 7.36 million in June from 7.54 million in May, in line with economists' expectations. Layoffs were little changed at 1.8 million, and the number of people quitting their jobs rose slightly, a sign of confidence in their prospects. The labor market has stayed resilient despite an energy price surge tied to fighting in Iran.

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