The S&P 500 index closed at a record high Tuesday, surpassing the peak it set last September and recouping all the ground it lost in a nosedive late last year.
The Nasdaq index also closed at a new high. The market has risen sharply since bottoming out on Christmas Eve, driven by greater confidence in the economy and reassurances that the Federal Reserve is unlikely to raise interest rates this year. The gains Tuesday came as big U.S. companies began turning in solid results for the first quarter.
On Tuesday:
The S&P 500 index gained 25.71 points, or 0.9%, to 2,933.68, a record.
The Dow Jones Industrial Average rose 145.34 points, or 0.5%, to 26,656.39.
The Nasdaq composite index climbed 105.56 points, or 1.3%, to 8,120.82, also a record.
The Russell 2000 index of smaller company stocks picked up 25.05 points, or 1.6%, to 1,585.09.
For the week:
The S&P 500 is up 28.65 points, or 1%.
The Dow is up 96.85 points, or 0.4%.
The Nasdaq is up 122.76 points, or 1.5%.
The Russell 2000 is up 19.35 points, or 1.2%.
For the year:
The S&P 500 is up 426.83 points, or 17%.
The Dow is up 3,328.93 points, or 14.3%.
The Nasdaq is up 1,485.54 points, or 22.4%.
The Russell 2000 is up 236.53 points, or 17.5%.
The Associated Press
