NEW YORK: The S&P 500 and the Nasdaq hit new highs on Tuesday with the tech-heavy index boosted by Apple and Zoom Video, while better-than-expected US manufacturing sector data fueled optimism around a post-pandemic economic recovery.

Apple Inc gained 2.9%, rising for the second straight day after its stock split took effect. A report also said the company had asked suppliers to make at least 75 million 5G iPhones for later this year.

Zoom Video Communications Inc surged 38.6% after the video-conferencing platform raised its annual revenue forecast by more than 30% as it converted more of its huge free user base to paid subscriptions.

At 12:32 p.m. ET, the Dow Jones Industrial Average was up 60.10 points, or 0.21%, at 28,490.15, the S&P 500 was up 11.69 points, or 0.33%, at 3,512.00. The Nasdaq Composite was up 120.90 points, or 1.03%, at 11,896.36.

Walmart Inc rose 5.4% after the retail giant unveiled the perks of its new loyalty program, Walmart Plus.

Tesla Inc fell 2.3% after the electric-car maker announced plans to raise up to $5 billion through a share sale program a day after its 5-for-1 stock split.-Reuters