And in this case, there's just so much liquidity that the market doesn't go down - just people take risk off by going into safe havens," said Jay Hatfield, chief executive of Infrastructure Capital Management in New York.įalling yields and safe-haven demand supported major technology stocks, which in turn lifted the Nasdaq.įAANG stocks, which have largely persevered through economic shocks since 2020, traded broadly higher. The S&P energy index dropped 3.9 per cent, the worst performing sector, as crude prices fell on demand implications.Ĭarriers including Delta Air Lines, United Airlines and American Airlines, and cruiseliners Norwegian Cruise Line and Carnival Corp all dropped between 0.6 per cent and 2.8 per cent.
All time closing high s&p 500 full#
The S&P 500 posted 45 new 52-week highs and no new lows the Nasdaq Composite recorded 91 new highs and 10 new lows.Friday's fall was caused by banking, energy and airline stocks slumping on fears that European countries, battling a resurgence of COVID-19 cases, could follow Austria in moving towards a full lockdown.īanking stocks fell 1.6 per cent, tracking a drop in Treasury yields as investors snapped up safe-haven bonds. But the approval has concerned some experts as the vaccine still must complete final trials.Īirlines and cruise operators, which would benefit from a full reopening of the economy, traded higher.Īdvancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio on Nasdaq, a 1.27-to-1 ratio favored advancers. The Dow Jones Industrial Average rose 204.79 points, or 0.74per cent, to 27,996.23, the S&P 500 gained 6.73 points, or 0.20per cent, to 3,367.2 and the Nasdaq Composite dropped 55.10 points, or 0.5per cent, to 10,913.26.įinancials and industrials, which have lagged the benchmark index this year, were up on Tuesday as the S&P 500 eyed its longest streak of gains since April 2019.Īiding sentiment, President Vladimir Putin claimed Russia had become the first country in the world to grant regulatory approval to a COVID-19 vaccine. Investors are hoping Republicans and Democrats will resolve their differences and agree on another relief program to support about 30 million unemployed Americans, as the battle with the virus outbreak was far from over with U.S. On Tuesday, the Russell 1000 value index rose 0.9per cent, while the Russell 1000 growth index was down 0.4per cent.
The Dow surged, also coming closer to its February peak. This is important because it suggests health in the economy."
"We're seeing a broadening of the market in terms of sectors. "We're seeing profit-taking in the mega-cap tech names and seeing those profits allocated toward sectors that have been lagging," said Quincy Krosby, chief market strategist at Prudential Financial, which is based in Newark, New Jersey. The Nasdaq was down on Tuesday, however, and investors continued to rotate out of the technology-related market heavyweights and into value shares. The tech-heavy Nasdaq has led the charge, boosted by "stay-at-home winners" Inc, Netflix Inc and Apple Inc. Ultra-low interest rates, trillions of dollars in stimulus and, more recently, a better-than-feared second-quarter earnings season have allowed all three of Wall Street's main indexes to recover. 19, when investors started dumping shares in anticipation of what proved to be the biggest slump in the U.S.
The benchmark index was less than 1per cent away from the all-time closing high it hit on Feb. REUTERS: The S&P 500 was higher on Tuesday afternoon and within striking distance of its closing record from February, before the onset of the coronavirus crisis that caused one of Wall Street's most dramatic crashes in history.
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