The S&P 500, the benchmark index that investors tend to rely on as a proxy for t...
NEW YORK - The S&P 500, the benchmark index that investors tend to rely on as a proxy for the U.S. stock market, topped 3,000 for the first time on Wednesday.
The S&P pulled back from the mark during the session, and was up 0.42% in mid-afternoon trade near 2,992. But just trading over the 3,000 mark could be a watershed that adds fuel to a market that has been breaking to record highs this year. The index, which includes U.S. companies with large market values, took less than five years to climb 1,000 points. The S&P closed above 2,000 for the first time on Aug. 26, 2014.
Some of the market’s most prominent names are also among the best-performing stocks as the S&P climbed its latest 1,000-point mountain. Amazon.com shares have surged about 490% over that time, while Netflix’s stock price has soared 450%. The technology and consumer discretionary sectors have also propelled the S&P 500 in 2019, as the index has climbed more than 19%, rebounding from its swoon at the end of last year.
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