Strong company earnings put investors in a buying mood Thursday, lifting the major U.S. stock indexes to record highs.
Banks and other financial companies led the rally as bond yields rose. Energy also notched big gains as crude oil prices rose. Utilities and materials lagged behind the broader market.
Traders have been focused in recent weeks on companies reporting their quarterly results as they size up corporate America's prospects for growth. They're also keeping an eye on Washington to gauge whether the Trump administration will deliver on expectations of business-friendly policies that helped drive a market rally last fall.
“You're definitely seeing a kind of...