Nasdaq, S&P rise to record highs

Investors drove the S&P 500 and Nasdaq to new highs Tuesday. Apple and Zoom led the rally.

The Nasdaq shot up 1.4%. The Dow and S&P gained three-quarters percent.

DataTrek Research co-founder Nick Colas:

"It looks like another day where the market is more enthusiastic about the promise of technology which I think is going to continue for quite a while over the cyclical recovery."

Investors were more than enthusiastic over the prospects of Zoom Video Communications, pushing shares up as high as 44% intraday. Analysts got excited, too, jacking up their price targets after the video conferencing company raised its annual revenue forecast.

Walmart was the day's third biggest gainer on the S&P. The retail giant launched its perks program to better take on Amazon. Walmart Plus will give subscribers unlimited free delivery just like Amazon Prime but will also extend discounts on gas and fast checkouts.

Tesla shares fell. The electric car maker plans to sell up to $5 billion in new shares.