S&P 500 passes record closing high

S&P 500 passes record closing high The S&P 500, a bellwether for the US economy and professional investors, pushed through its record closing high from 2007 on Thursday morning, completing a strong recovery from the depths of the financial crisis.

The S&P rose 0.2 per cent to 1,565.40, setting it on track to eclipse its prior record close of 1,565.15, set in early October 2007 before the financial crisis dawned. The S&P’s intraday high of 1,576.09 from 2007 remains the next objective for bullish investors.

Since hitting an intraday low of 666.79 in March 2009, the S&P has rallied 131 per cent, boosted by aggressive monetary easing by the Federal Reserve and record US profits from the 500 constituents in the index.

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