U.S. stocks rose on Tuesday after a report on consumer spending raised hopes for the holiday-sales season, despite the bite in consumers’ wallets from inflation, putting the S&P 500 on track for a fresh high.
The S&P 500 rose 0.5% to 4706, a day after the benchmark index closed at its fifth-highest level on record. If it holds those gains to the closing bell, it would eclipse its record of 4701 from Nov. 8.
