The S&P 500 Reaches a Record High Thanks to The Vaccine And The Stimulus Bets

The S&P 500 Index hit a record high moments after the opening Wednesday, amid demand for stocks sensitive to economic developments such as banks and industrial companies sparked hopes for a vaccine-fueled recovery and more US fiscal stimulus.

The S&P 500 opened up 3.73 points, equivalent to 0.10%, to reach 3705.98 points, the Dow Jones Industrial Average advanced 55.93 points, or 0.19%, posting 30,229.81 points, and the Nasdaq Composite Index rose 8.91 points, or 0.07%, to 12,591.69 points.