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Something Pretty Big Happened in the S&P 500 Today

Business

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:

Meanwhile, the Dow Jones industrial average increased by 128 points, or 0.8 percent, to 15,628:

Lastly, the Nasdaq composite rose 49 points, or 1.4 percent, to 3,675:

“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.”

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Follow Becket Adams (@BecketAdams) on Twitter

Featured image AP. This post has been updated.

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