NPR : News

Filed Under:

1,569: S&P 500 Closes At All Time High, Rising Above Oct. 2007 Mark

The Standard & Poor's 500 stock index broke new ground today, closing at 1,569, an all-time high that erased the record set on Oct. 9, 2007.

The S&P joins the Dow Jones Industrial Average, which broke its 2007 record earlier this month.

Both indices have now recovered all the losses they suffered during the Great Recession.

The Wall Street Journal reports:

"The S&P 500 had flirted with its closing record for two weeks before finally vaulting over that level Thursday. It had come within five points of the closing high in seven of the past 10 sessions.

"'The market has been trying and trying, and we finally crossed the line,' said Quincy Krosby, a market strategist at Prudential Financial, PRU -0.20% which manages roughly $1 trillion in assets. 'Having the Dow reaching new highs was good, but the S&P 500 is broader, it's bigger... it's an important message for investors.'"

Update at 4:16 p.m. ET. 131 Percent:

The Financial Times has this stunning number: "Since hitting an intraday low of 666.79 in March 2009, the S&P has rallied 131 per cent, boosted by aggressive monetary easing by the Federal Reserve and record US profits from the 500 constituents in the index."

This chart shows that huge fall and the recovery that followed:

All of this, notes the paper, is dampened by the fact that the U.S. economy overall has recovered at a very slow pace.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

The Bonds Of Friendship Stay Strong In 'Stranger'

Newbery Medal-winning author Rebecca Stead says her latest, Goodbye Stranger, is about love and how it helps a trio of seventh-grade girls stay friends through the challenges of middle school.
NPR

How Percy Shelley Stirred His Politics Into His Tea Cup

In 19th century Britain, keeping sugar out of tea became a political statement against slavery. The sugar boycott was no easy choice for the radical poet, who hated slavery but loved tea.
NPR

Fox News' Debate Selection Method Is Not Without Critics

Broadcaster Fox News announces which 10 candidates will be allowed on stage for the first official Republican debate next month. NPR's Audie Cornish talks with politics editor Domenico Montanaro.
NPR

Sexist Reactions To An Ad Spark #ILookLikeAnEngineer Campaign

After being surprised by online responses to her appearance in a recruiting ad, engineer Isis Wenger wanted to see if anyone else felt like they didn't fit a "cookie-cutter mold."

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.