LIVE MARKETS-S&P 500 ekes out 11th record closing high of year

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S&P 500 EKES OUT 11TH RECORD CLOSING HIGH OF YEAR

The S&P 500 .SPX, which scored its 11th record closing high of the year, and the Dow .DJI ended higher on Tuesday.

Shares of Tesla TSLA.O gained 1.1% and ranked among the biggest boosts to the SPX. The Nasdaq .IXIC ended lower.

Tesla is due to report quarterly results late on Wednesday along with Alphabet GOOGL.O, whose shares rose 0.7% on Tuesday.

Healthcare .SPXHC also rose and led percentage gains in S&P 500 sectors, while the Utilities .SPLRCU registered a record closing high.

Among the day's decliners, however, were shares of General Motors GM.N, whose second-quarter earnings took a $1.1 billion hit from tariffs.

Results are now in from 89 of the S&P 500 companies, with earnings growth for the second quarter now estimated at 7%, according to LSEG, based on actual results as of Tuesday and forecasts for the rest of the companies. The latest estimate is up from 5.8% on July 1.

Investors also digested the latest developments on the trade war front, with U.S. President Donald Trump on Tuesday announcing a new 19% tariff rate for goods from the Philippines.

Trade talks are under way amid an August 1 tariff deadline.

Here is the closing market snapshot:

(Caroline Valetkevitch)

EARLIER ON LIVE MARKETS:

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