S&P 500 trades above closing record high level

The S&P 500 traded above its record closing high on Wednesday in a broad rally led by tech stocks.

In afternoon trading, the benchmark index was above the record high close of 3,386.15 from Feb. 19, before the onset of the coronavirus crisis in the United States that caused one of Wall Street’s most dramatic crashes in history.

If it manages a close above that level, the high would confirm, according to a widely accepted definition, that Wall Street’s most widely followed index has been in a new bull market since its pandemic low on March 23.

Heavyweights Microsoft Corp , Amazon.com Inc and Apple Inc were among the top boosts to the S&P 500.

The Dow Jones Industrial Average rose 341.24 points, or 1.23%, to 28,028.15, the S&P 500 gained 53.42 points, or 1.60%, to 3,387.11 and the Nasdaq Composite added 245.45 points, or 2.28%, to 11,028.27.

(Additional reporting by Medha Singh and Ambar Warrick in Bengaluru; Editing by Arun Koyyur, Uttaresh.V and Tom Brown)

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