Stocks hit all-time highs for the first time since January

pulse

August 21, 2018 6:01 PM

Led by tech and utilities companies, the benchmark S&P 500 index surpassed its previous intra-day record of 2,872.87. The stock market cratered into a correction in February.

The
On Wednesday, this bull market will become the longest ever.
Strong earnings growth continues to power the stock market in the face of trade disputes, higher interest rates, and other things that have caused volatility this year.

US stocks on Tuesday rose to record highs for the first time since January 26.

Led by tech and utilities companies, the benchmark S&P 500 index surpassed its previous intra-day record of 2,872.87.

The rally to new highs almost coincided with an even bigger milestone for the stock market: After the market closes on Wednesday, this bull market will officially become the longest in history, as measured by its ascent from the low it set during the recession in 2009.

Stocks rebounded after a correction in February, a 10% drop from its previous high that was only the fourth of this bull market. The plunge took the Dow Jones industrial average down by more than 1,000 points, the most ever, and wiped out investment products that had profited from the low volatility that prevailed in markets from most of last year.

US stocks have been supported this year by strong earnings growth, even in the face of trade disputes, turmoil in emerging markets, and other factors that created volatility at various times during the year.

This story is developing.

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