U.S. stocks posted solid gains Tuesday, propelling the Standard & Poor's 500 index and Nasdaq composite to all-time highs.
Mining and other materials-sector companies rose more than the rest of the market. The sector could benefit from initiatives by the White House to streamline the permitting process for manufacturing and clear the way for pipeline construction.
Financial stocks also rose sharply. Energy companies climbed as crude oil prices advanced. The rally also swept up stocks in U.S. home builders.
Healthcare, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose.
Although several big companies reported...