Both the S&P 500 and Nasdaq Composite closed at new record highs on Tuesday as investors ruminate over the potential for economic impact from the spread of the coronavirus.
The S&P closed up .02 percent at 3,357.75. The Nasdaq was up .1 percent at 9,638.94. The Dow Jones Industrial Average rose as much as 138 points before closing at 29,276.34.
All three major averages also hit intraday records earlier in the day.
Federal Reserve Chairman Jerome Powell testified in front of the House Financial Services Committee that the central bank is closely watching the coronavirus spread, although he noted that it was "too early to say" if the virus will impact the U.S. economy.