The S&P 500 climbed 1.1% and closed at an all-time high. The Nasdaq composite gained 1.4%, also ending the session at a record high on the stock market today. The Russell 2000 small-cap index fared even better than the large-cap indexes with its 3% leap.

U.S. stocks finished sharply higher on Tuesday, with the S&P 500 and Nasdaq Composite booking fresh records after [the July consumer-price index](

Stock futures were little changed on Tuesday morning ahead of the highly anticipated release of July inflation data.