S&P 500 Rockets From 4,000 to 5,000 With Economy Humming Along
- Benchmark American equities gauge is up 20% since late October
- Took 719 sessions for index to set its 1,000-point milestone
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The S&P 500 Index finished above 5,000 for the first time ever Friday as investors continue to bet on the resilient US economy and the Federal Reserve’s plans to start cutting interest rates later this year.
The equities benchmark closed at 5,026.61 to notch five straight weeks of gains. It briefly breached the round-number threshold minutes before the close Thursday.