This morning, the S&P, Standard and Poor, 500 stock index rose to 2000 for the first time to 2000 in the powerful bull market that began in March 2009 briefly this morning at about 10:11 a.m. This morning the 10 primary S&P 500 sectors were higher, and more than two-thirds of stocks traded on both the New York Stock Exchange and the Nasdaq were higher this morning. The bull market began in 2009 and has since tripled in value raising in value 196% and is now up 8% this year. According to Bloomberg Business Week, “The dollar appreciated 0.3 percent to $1.32 per euro, trading at its strongest level since Sept. 9. The Stoxx Europe 600 Index added 0.9 percent in below-average trading as U.K. markets were closed for a holiday.”
According to data released by the U.S government that from housing to manufacturing, the U.S is continuing to recover from the recession that has plagued the country. According to USA Reports, “Stocks have rallied three straight weeks as investors bet on signs of an improving U.S. economy and react to a better-than-expected second-quarter earnings season, where companies in the S&P 500 posted profit growth of 8.4%.” The dollar climbed to an 11-month high and German two-year note yields dropped below zero.
The S&P rose by 1.7 % last week and had its biggest gain since April. The S&P broke a record on August 21st. The index has been rising by about 100 points since August 7th, 2014 and continued for 9 out of 12 days to erase a 3.9 % drop that had started on July 24th. The advance has added more than $900 billion to equity prices amid speculation central banks will keep interest rates low and as concern over crises from Ukraine to Iraq eased.