ASIAN SHARES MOSTLY ADVANCE AFTER WALL STREET GAINS AND OIL PRICES FALL

What happened: The S&P 500 rose 0.6% Tuesday to a record, topping its prior August high, as the Dow and Nasdaq also gained. Asian indexes mostly advanced, with Japan's Nikkei 225 up 1.1% and Hong Kong's Hang Seng up 1%. Key numbers: S&P 500 rose 44.98 points to 7,818.93, up 23% since late March. Why it matters: Strong corporate profits are letting the market "win the tug-of-war against yields," per Barclays strategists, even as high bond yields make investors less willing to pay high prices for non-bond investments. Results hinge on companies meeting profit expectations.

The S&P 500 rose 0.6% Tuesday to a record, topping its prior August high, as the Dow and Nasdaq also gained. Asian indexes mostly advanced, with Japan's Nikkei 225 up 1.1% and Hong Kong's Hang Seng up 1%.

Strong corporate profits are letting the market "win the tug-of-war against yields," per Barclays strategists, even as high bond yields make investors less willing to pay high prices for non-bond investments. Results hinge on companies meeting profit expectations.