The Globe and Mail reports in its Wednesday edition that the S&P 500 climbed to a record-high close on Tuesday as investors digested a mixed bag of early quarterly results and awaited a slew of additional reports from Tesla and other companies later this week. A Reuters dispatch to The Globe says that it was the third straight all-time high for the benchmark stock index. Many investors view upcoming quarterly reports from the heavily weighted Magnificent Seven group of megacap companies as key to whether Wall Street's recent rally continues or loses steam. In extended trade, Netflix rallied 3.2 per cent after the video streaming service blew past Wall Street subscriber estimates in the fourth quarter, driven by a strong slate of shows. Analysts on average see S&P 500 fourth-quarter earnings up 4.6 per cent year-over-year compared with 7.5-per-cent growth in the third quarter. Stock market valuations appear rich. The S&P 500 is trading at about 20 times forward 12-month earnings estimates, well above its long-term average of 16 times. The S&P/TSX Composite Index ended up 110.29 at 21,034.59, its fourth straight day of gains. The materials sector added 2.1 per cent as copper and gold prices climbed.