S&P 500, Dow Rise To Record Levels

U.S. stocks broke a five-day run of fractional moves and staged a micro-rally to close at record levels. Sentiment was boosted by stronger housing data in the U.S. as well as widely anticipated news of a snap election in Japan and better-than-expected data from Germany. But overall optimism is also supported by the fact that global central banks remain highly accommodative, providing liquidity and keeping key interest rates low. The S&P 500 gained 10.50 points, or 0.5%, to close at 2,051.82. This marks the 43rd time the index closed at record high this year. The Dow Jones Industrial Average added 40.20 points, or 0.2%, to 17,687.95, hitting an all-time high for the 26th time in 2014. The Nasdaq Composite closed up 31.44 points, or 0.7%, at 4,702.44, the highest level since March 2000.

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