The S&P 500 surged above 3,000 for the first time in history:
The S&P 500 intraday Wednesday surged above a closely watched milestone at 3,000 for the first time ever as investors were heartened by prepared remarks from Federal Reserve Chairman Jerome Powell ahead of his seminannual testimony in front of Congress. Investors read the central bank boss's comments as suggesting that the Fed would maintain policies in place that have been accommodative to equity benchmarks rallying toward records. The S&P 500 index SPX, +0.
89 early Wednesday, which marks its first milestone in about 460 sessions since hitting 2,500, according to Dow Jones Market Data. Although the number isn't technically significant, investors tend to watch round-number milestones for their psychological importance. Breaking above key levels can be bullish for overall market sentiment. Most recently, the S&P 500 was gaining 0.7% at 3,000.89. Meanwhile, the Dow Jones Industrial Average DJIA, +0.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. Stocks Rise to Records Following Powell’s CommentsU.S. stocks leapt to records Wednesday after Federal Reserve Chairman Jerome Powell set the stage for the central bank to cut interest rates to bolster flagging growth.
Read more »
Canal Plus Confirms Major Cull Of Up To 500 Staff In The Face Of Digital “Revolution”French giant Canal Plus has confirmed last week’s media reports that it could lose up to to 500 staff as it responds to sectoral change. In a statement today the company said that it will nee…
Read more »
These S&P 500 sectors show this bull market has more to runSectors that typically lag prior to market tops are holding up well, writes Mark Hulbert.
Read more »
Banks should shine among S&P 500 stocks this earnings seasonGet ready, investors: Large U.S. banks are in the best shape they have been in for 30 years, this head of value equity says
Read more »
S&P 500 ekes out gain as earnings worries loomThe S&P 500 ended slightly higher on Tuesday as gains in tech-related shares off...
Read more »