Investing.com -- U.S. stocks moved broadly higher extending recent gains, amid a spike in energy stocks as Iran struck a deal with western powers on a historic nuclear deal and gains in the financial industry after a pair of prominent banks kicked off earnings season.
The Dow Jones Industrial Average and NASDAQ Composite index rose moderately to push respective winning streaks to their fourth consecutive session, while the S&P 500 Composite index posted steady gains continuing its march toward an all-time record high. The Dow gained 75.90 or 0.42% to end Tuesday's session at 18,053.58, while the NASDAQ added 33.38 or 0.66% to 5,104.89, following a strong performance from technology and pharmaceutical stocks.
The S&P 500, meanwhile, rose 9.35 or 0.45% to 2,108.95, as stocks in nine of 10 sectors closed in the green. Stocks in the Health Care and Energy industries led, each gaining more than 0.9% on the session. Stocks in the Utilities sectors lagged ending the session as the only sector in the red.
Shares in JPMorgan Chase & Co (NYSE:JPM) gained more than 1.35% to 69.04, after the largest bank in the U.S. reported higher profits than expected, bolstered by declines in legal and non-interest expenses, as well as lower effective tax rates. As a result, the company's net income attributable to common shareholders rose to $5.78 billion or 1.54 per share up from $5.57 billion or 1.46 during the same period last year.
Wells Fargo & Company (NYSE:WFC), meanwhile, saw its revenue increase by 1% on a year-over-year basis to $21.3 billion, but reported profit declines for the second straight quarter due in part to rising employee costs. Wells Fargo shares still gained nearly 1% to 57.26.
The top performer on the Dow was UnitedHealth Group Incorporated (NYSE:UNH), which gained 2.55 or 2.08% to 125.00. The worst performer was Johnson & Johnson (NYSE:JNJ), which fell 0.49 or 0.49% to 99.78, after experiencing weak second-quarter sales among its skin and baby care products, as well as declines with its new Hepatitis C medication.
The biggest gainer on the NASDAQ was Micron Technology Inc (NASDAQ:MU), after reports surfaced that the Boise, Idaho-based semiconductor is being pursued by Chinese state-owned company Tsinghua Unigroup in a potential $23 billion acquisition. The takeover would be the largest ever by a state-owned Chinese company. Micron shares soared nearly 11% to 19.54. The worst performer was Fastenal Company (NASDAQ:FAST), which fell 1.57 or 3.67% to 41.25.
Micron was also the top performer on the S&P 500, just ahead of Vertex Pharmaceuticals Inc (NASDAQ:VRTX), which gained 5.32 or 4.28% to 129.56. Shares in Kroger Company (NYSE:KR) closed at 38.20 after one of the largest U.S. supermarket chains completed a 2-for-1 stock split on Tuesday. Kroger finished just below Navient Corp. (NASDAQ:NAVI), which plunged 1.93 or 10.51% to 16.43. On Monday, Navient shares fell 13% in after-hours trading after the Delaware-based student loans management company cut its second-quarter guidance.
On the New York Stock Exchange, advancing issues outnumbered declining ones by a 1,984 to 1,127 margin.