US stocks closed at fresh record highs on Tuesday as investor confidence was boosted by rising oil prices and better than expected earnings from Alcoa. The dollar weakened as the euro and British Pound rose: the live dollar index data indicate the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, slipped 0.04% to 96.473. The Dow Jones industrial average rose 0.7% to 18347.67, a record high, led by Goldman Sachs and DuPont. The blue chip index joined the S&P 500 at an all-time closing high a day after the broad market index set an all-time closing high. The S&P 500 added 0.7% closing at 2152.14, a fresh record high, led by 2.3% gain in energy stocks. The Nasdaq index closed 0.7% higher at 5022.82, the first close in positive territory in 2016 with a 0.3% gain. The benchmark 10-year Treasury yield rose 7.8 basis points to 1.512%. Market sentiment was buoyed as better than expected quarterly report from Alcoa underpinned expectations corporate earnings may not be as disappointing as anticipated. Risk appetite was bolstered also by optimism the US economic recovery continues after stronger than expected jobs report on Friday. Analysts also note that stocks look attractive given global low interest rate environment but stock valuations are high and a recovery in corporate revenue and earnings growth is needed for a sustainable rally. In economic data a June reading of small business optimism rose for a third straight month but was below its long-term average. And US wholesale inventories edged higher in May. Today at 13:00 CET Mortgage Applications will be released in US. At 14:30 CET June Import Price Index will be published. The tentative outlook is negative for the dollar. At 16:30 CET US Crude Oil Inventories will be released by the Energy Information Agency. And at 20:00 CET June Budget Statement and Federal Reserve Beige Book will be released. Continue reading... For more information, read our latest Forex Traders News.