The S&P 500 surged above 3,000 for the first time in history:
The S&P 500 intraday Wednesday surged above a closely watched milestone at 3,000 for the first time ever as investors were heartened by prepared remarks from Federal Reserve Chairman Jerome Powell ahead of his seminannual testimony in front of Congress. Investors read the central bank boss's comments as suggesting that the Fed would maintain policies in place that have been accommodative to equity benchmarks rallying toward records. The S&P 500 index SPX, +0.
89 early Wednesday, which marks its first milestone in about 460 sessions since hitting 2,500, according to Dow Jones Market Data. Although the number isn't technically significant, investors tend to watch round-number milestones for their psychological importance. Breaking above key levels can be bullish for overall market sentiment. Most recently, the S&P 500 was gaining 0.7% at 3,000.89. Meanwhile, the Dow Jones Industrial Average DJIA, +0.
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