The S&P 500 hit an all-time high in today’s market session, tying the longest bull market recorded and could go down in history as the longest ever by Wednesday’s session. S&P 500 ETFs gained on the index’s upward momentum–the SPDR S&P 500 ETF (NYSEArca: SPY) rose 0.34%, the iShares Core S&P 500 ETF (NYSEArca: IVV) gained 0.33% and the Vanguard S&P 500 ETF (NYSEArca: VOO) was up 0.34%.
Come Wednesday, the bull market will officially turn 3,453 days old, making it the longest in history. Today, the S&P 500 tied the bull market record that ran from October 1990 to March 2000.
Related: S&P 500 Ties Record for Longest Bull Market
The S&P 500 gained the necessary 0.5% to hit its new record, getting a boost from Discovery Inc and Medtronic PLC–both up 5.8% and 5.5%, respectively. By the middle of the trading session, indexed ticked past 2,872 points to tie a previous January 26 high.
The markets took a step back last week from reaching highs as the economic crisis in Turkey put a damper on the bull run, but last Friday’s renewed talks between the United States and China returned the S&P 500 back to its record-setting path.
“Investors, overall seem more optimistic that the troubles with global trade may get resolved this week,” said Kate Warne, principal and investment strategist at Edward Jones in Des Peres, Missouri. “We’ve seen a continuation of strong earnings and signs of stronger economic growth and you would expect investors to be confident in this kind of an environment and expect stocks to rise.”
Behind the S&P 500’s record-setting rally, the other TWO major indexes were in the green with the Nasdaq Composite gaining over 40 points and the Dow Jones Industrial Average rose over 100 points as of 3:10 p.m. ET.
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