Wall Street Rally: S&P 500 and Nasdaq Reach Record Highs Amid Tech Earnings Surge

The S&P 500 reached a record high, marking five consecutive sessions of gains, fueled by earnings reports and tech stock performance. Despite some airline setbacks due to winter weather, investor optimism persisted with positive earnings forecasts from major companies. The Federal Reserve's policy meeting garnered attention amid economic concerns.

The S&P 500 set a new record while extending its gain streak to five sessions as investors evaluated earnings reports and a Medicare Advantage proposal. Meanwhile, the Nasdaq hit a near three-month high.

Parcel carriers, seen as economic indicators, reported positive earnings, with UPS and FedEx delivering upbeat projections. However, airlines faced challenges due to severe weather-related cancellations.

Tech stocks continued their rally, while Federal Reserve policies remained under scrutiny as the market braced for more earnings reports and economic signals.

(With inputs from agencies.)