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Stock Market Today: S&P 500 Hits All-Time High; Techs, Small Caps Lead

The S&P 500 scored an all-time high Tuesday in the stock market today, but small caps and technology stocks outperformed. The Russell 2000 was up 1.3%, while the Nasdaq composite added 0.6%.

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Top performers in the Nasdaq 100 included beaten down names Micron Technology (MU) and Tesla (TSLA), while Medtronic (MDT), Discovery (DISCA), PulteGroup (PHM) and Lennar (LEN) outperformed in the S&P 500.

The S&P 500 and the Dow Jones industrial average rallied about 0.3% each. Volume on the NYSE and Nasdaq was tracking slightly higher than Monday's levels in the stock market today.

Earnings reports stayed in focus. In stock market results today, retailer TJX Cos. (TJX) jumped 4.5% in heavy volume on strong earnings.

Kohl's (KSS) also reported earnings. Shares fell 4% early, but the stock reversed higher in late trade. It's trying to clear a shallow, cup-shaped base with an 80.02 buy point. Shares were recently trading around 79.48, up 0.8%.

Stock Market Today: Software Stocks Lead

Enterprise software stocks did well Leaderboard name Workday (WDAY) added nearly 2% to 145.87 after Guggenheim gave the stock a buy rating and 175 price target.

Group peer HubSpot (HUBS) reclaimed its 50-day moving average, rising 4% to 131.50. It's working on a double-bottom base with a 136.85 buy point.

Homebuilders also outperformed. Positive sentiment was fueled by better-than-expected earnings from Toll Bros. Shares of Toll Bros. soared 13%.

Inside the IBD 50, Netflix (NFLX) showed more signs of life after a sharp pullback. Shares were up 4%, helped by positive comments from William Blair. The stock turned in a solid showing Monday after Netflix said it's testing ads in some of its programming.

Marijuana stock Tilray (TLRY) followed through after a powerful breakout Monday from a first-stage, IPO base. Shares were up another 9% to 39.27.

Other heavy-volume gainers included health care name Premier (PINC). Strong earnings fueled a gap up out of a flat base with a 39.09 entry. Because the stock gapped over the buy point, Premier's open price of 40.20 was a legitimate entry.

The current week is relatively light on economic data, but the minutes from the last Federal Reserve meeting will be released Wednesday at 2 p.m. ET. The Fed is widely expected to lift rates a third this year at the September meeting, but a fourth hike in December is still in question.

The Jackson Hole Economic Symposium starts Thursday in Wyoming. Federal Reserve Chairman Jerome Powell will deliver a speech Friday morning.

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