S&P 500 Passes 4,000 Points For First Time

The S&P 500, an index of the 500 largest publicly traded companies on U.S. stock exchanges, surpassed 4,000 points on Thursday for the first time.

It closed at 4,020, up 47 points, or 1.2 percent.

The market milestone is the latest record in a year that has seen unexpected gains despite the global COVID-19 pandemic, which led to some of the worst economic conditions since the Great Depression.

Low interest rates and swift government intervention helped rescue stocks after an initial crash last February and March. Even as the real economy struggled to find its footing amid the ongoing health crisis, securities soared, led by technology companies that were increasingly central to daily life amid lockdowns and health-related restrictions.

Markets, expecting a swift recovery with the advent of vaccines, continued their march ahead.

Read more at The Hill.

{Matzav.com}