S&P 500 hits its first record high since February after overcoming a virus-driven bear market
The S&P 500 hit intraday record highs on Tuesday as investors looked ahead to possible economic stimulus and a resolution to US-China trade issues.
Factors driving the market higher since the March 23 low include monetary and fiscal stimulus policies from the Federal Reserve and Congress, as well as increasing hope of a successful COVID-19 vaccine being developed. The 55% rally from the low of March 23 to today's new record highs represents one of the fastest bear-market recoveries in history.
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