Cambridge Advisors Inc. increased its stake in SPDR Dow Jones Industrial Average ETF by 0.4% in the second quarter.
MSCI's gauge of stocks across the globe has scored its longest monthly winning streak in more than a decade.
JPMorgan Chase and Bank of America each rose 1.2 percent in midday trading Tuesday.
Nearly exactly a year ago, Donald Trump dismissed the stock market's rise under President Barack Obama as a "big bubble".
"Investors are completely immune to all the drama which is taking place in Washington because if you look at the performance of the Dow, it appears everything is hunky-dory", said Naeem Aslam, chief market analyst at Think Markets UK.
Auto Nation was also under pressure after the vehicle dealer posted lower than expected third quarter earnings per share of 86 cents.
"We anticipate a stronger upgrade cycle in (2018) with the 10-year anniversary iPhone 8, as our surveys indicate strong consumer interest in and anticipation for new iPhones anticipated to launch in September", said Canaccord Genuity analyst Michael Walkley.
It is due to report second quarter numbers in around an hour, and concensus is for the California- based company to post an adjusted loss per share of $1.82, on revenues of $2.51 billion. Of the 350 companies in the S&P 500 that have reported through Wednesday morning, 70 percent have topped expectations.
Those results may reassure investors anxious about high valuations.
The Nasdaq Composite was up 29.02 points, or 0.46%, at 6 391.96.
The S&P 500 and Nasdaq are also trading near record highs set in late July.
Political and geopolitical uncertainties weighed on sentiment, as did weaker-than-expected United States private sector jobs data from payroll firm ADP, but corporate earnings won the day. Economists polled by Reuters expected an addition of 185,000 jobs. The data comes ahead of the more comprehensive non-farm payrolls data on Friday.
USA profits for the second quarter have been strong, with earnings growth now at 11.4 percent, according to Thomson Reuters data.
Shares of Archer Daniels Midland climbed after the U.S. agricultural merchant reported better-than-expected earnings, bolstered by margins on sweetener and starches as well as on corn ethanol.
A measure of 30-day volatility known as the CBOE VIX (NYSEARCA:VXX) declined 1.7% to 10.09. Sony Corp. fell 1%.