(CNBC) — U.S. stocks rose on Tuesday, lifting the Dow to an all-time high and the S&P 500 to its first finish above 2,000, after better-than-expected reports -- including a jump in orders for durable goods -- cast favorable light on the U.S. economy.
"There's an expectation that times are good and are going to get better, and that this economy has legs," said Brad McMillan, chief investment officer at Commonwealth Financial.
That said, "there is a lot of caution there; we just broke a big barrier. We failed to break over 2,000 a couple of times. If we don't rise above it in a convincing way, that's the market telling us" that investors are wary, said McMillan, who added that the outcome should become clearer in the next week or so as Wall Street professionals return from summer breaks.
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