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S&P 500 tops 1,900 for first time
NEW YORK (CNNMoney)
Don't blink -- or you might miss another record.
Wall Street barreled toward its third consecutive record session on Tuesday, highlighted by the S&P 500 climbing above the 1,900 level for the first time ever.
The Dow Jones industrial average and the S&P 500 both hit new records this morning, although they have since retreated from their earlier peaks. The Nasdaq is bouncing between small gains and losses.
The S&P 500 has achieved recent milestones at a very fast pace.
After first crossing over the 1,500 line in March 2000, it took the S&P 500 13 years to eclipse the 1,600 mark, according to S&P Dow Jones Indices. But the broad index then logged the next four round number milestones all in the past year.
The Dow and S&P are still up for the day, although early enthusiasm in the market was muted a bit by an economic report that showed consumer spending slowed in April. Despite warmer weather in the spring, consumers didn't open up their wallets as much as Wall Street hoped. U.S. retail sales inched up just 0.1% last month, trailing forecasts for a 0.4% rise.
In response to the disappointing data, consumer discretionary stocks were among the weakest performers on Tuesday.
S&P 500 tops 1,900 for first time
NEW YORK (CNNMoney)
Don't blink -- or you might miss another record.
Wall Street barreled toward its third consecutive record session on Tuesday, highlighted by the S&P 500 climbing above the 1,900 level for the first time ever.
The Dow Jones industrial average and the S&P 500 both hit new records this morning, although they have since retreated from their earlier peaks. The Nasdaq is bouncing between small gains and losses.
The S&P 500 has achieved recent milestones at a very fast pace.
After first crossing over the 1,500 line in March 2000, it took the S&P 500 13 years to eclipse the 1,600 mark, according to S&P Dow Jones Indices. But the broad index then logged the next four round number milestones all in the past year.
The Dow and S&P are still up for the day, although early enthusiasm in the market was muted a bit by an economic report that showed consumer spending slowed in April. Despite warmer weather in the spring, consumers didn't open up their wallets as much as Wall Street hoped. U.S. retail sales inched up just 0.1% last month, trailing forecasts for a 0.4% rise.
In response to the disappointing data, consumer discretionary stocks were among the weakest performers on Tuesday.