S&P 500 Rallies 90 Points, Nears All-Time High
The S&P 500 surged 90 points on the day, adding roughly $800 billion in market capitalization and closing within 0.5% of its record peak.
SPX
The S&P 500 extended its intraday advance to roughly 90 points, boosting the total market capitalization of the index by an estimated $800 billion in a single session.
The advance leaves the benchmark just half a percent below its all-time high, putting fresh records within striking distance. The move underscores broad-based buying pressure across large-cap US equities.
Equity holders saw a significant daily wealth gain, with the index’s rally lifting portfolio values across the board.
Source: The Kobeissi Letter