The S&P 500, the index regarded as being the most representative of corporate America, closed at a record high last night, surpassing a level hit in February before the coronavirus crisis and marking one of the most dramatic recoveries in the index’s history.
Trillions of dollars in fiscal and monetary stimulus have made Wall Street flush with cash, pushing yield-seeking investors into equities. Amazon and other high growth technology-related stocks have been regarded as the most reliable shelters to ride out the crisis.
The S&P 500 rose by 7.79 points, or 0.2 per cent, to finish at 3,389.78 in New York yesterday compared with the previous record of 3,386.15 on February 19. The index is 4.9 per cent higher since the start of the year
