(CNBC) — The S&P 500 rose to an all-time high on Tuesday, capping off its recovery from the coronavirus-induced sell-off that knocked it off its previous record.
The broader market index climbed 0.3%, trading above a closing record of 3,386.15. It also traded above its Feb. 19 intraday record of 3,393.52 earlier in the day. At its session high, the S&P 500 traded at 3,395.06. The S&P 500′s move into record territory came after the index flirted with its all-time closing high for more than a week.
“There has been a lot of good news seemingly validating” this move higher, said Andrew Slimmon, managing director at Morgan Stanley Investment Management. Slimmon noted the economic data has been strong recently and corporate earnings have topped analyst expectations.
