S&P 500 logs its first record close in 6 months and marks fastest recovery from a bear market in history
U.S.stocks finished mostly higher Tuesday, with the S&P 500 index notching its first record close since Feb. 19 and marking the quickest recovery from bear-market territory in its history, according to Dow Jones Market Data. The S&P 500 SPX, +0.23% finished up a modest 8 points, or 0.2%, at 3,390 . It has taken the broad-market benchmark 126 trading sessions to finish at a new record after falling by at least 20%, which defines a bear market.
The Nasdaq closed up 0.7% at 11,210. Meanwhile, the Dow Jones Industrial Average DJIA, -0.24% finished the session off 0.2% at 27,777. All closing levels are on a preliminary basis. The records for the S&P 500 and the Nasdaq come, however, even as millions of Americans are out of work due to the coronavirus pandemic."Many continue to wonder why stocks are at new highs with 10% unemployment and nearly a million people filing for initial unemployment claims.
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