S&P 500 tops 2,000; analysts see more gains ahead

Reuters
Traders work on the floor of the New York Stock Exchange
.

View photo

Traders work on the floor of the New York Stock Exchange August 22, 2014. REUTERS/Brendan McDermid

By Ryan Vlastelica

NEW YORK (Reuters) - The S&P 500 vaulted above 2,000 for the first time on Monday, with financials and biotechnology stocks lifting the benchmark index to a new record as investors bet on equities as a preferred asset over bonds.

The significance of the milestone was more psychological than fundamental, and it represents the cumulation of a six-year rally that has boosted retirement accounts for Americans from Wall Street to Main Street, though the gains have largely benefited wealthier Americans.

On a total-return basis the S&P 500 has more than tripled from its 2009 low hit during the financial crisis.

(Editing by Bernadette Baum)

View Comments (0)