emirates7 - US stocks closed sharply higher on Tuesday, with the major indices reaching record highs, supported by stronger-than-expected quarterly earnings from major companies and lower oil prices.

The broad-based S&P 500 rose 1.8 percent to close at a new all-time high, surpassing the previous record it set around two months ago.

The Dow Jones Industrial Average gained 907 points, or 1.7 percent, to finish at a new record high, while the Nasdaq Composite advanced 2.6 percent.