The Standard and Poor’s 500 index for the first time in its 90-year history closed above the 1,700 mark on Thursday.
The S&P, which measures the performance of large cap companies in the U.S., rose 21 points, or 1.3 percent, to 1,706:
“Better manufacturing news in China and the U.S. as well as encouraging reports on jobs and company earnings sent the market up Thursday,” the Associated Press reports.
“Small-company stocks and transportation stocks also rose sharply. Investors sold ultra-safe U.S. government debt,” the report adds. “Three stocks rose for every two that fell on the New York Stock Exchange. Volume was higher than average at 3.8 billion shares.”
Follow Becket Adams (@BecketAdams) on Twitter
Featured image AP. This post has been updated.