U.S. equities climb; S&P nears record as Dow tops 46,700

U.S. stocks advanced with the S&P 500 near record territory at ~6,735, while the Dow added ~515 points to close around 46,706. Gains were broad in financials and energy, alongside pockets of strength in industrials after upbeat earnings. The Nasdaq rose on tech optimism earlier but finished mixed in some reports as mega-caps wobbled into the close. Valuation concerns persisted with strategists flagging stretched multiples versus historical averages. Still, easing Treasury yields and resilient earnings guidance supported risk sentiment into late October.