S&P 500 Surpasses 2,600 in Record Year of 100-Point Milestones
- Advance builds on longest run of quarterly gains since 1998
- Corporate earnings, fear to miss out adding to market momentum
UBS's Parker Sees a 12% Rally Ahead
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The S&P 500 Index sailed past 2,600 for the first time, hitting its fourth round-number milestone of the year as the bull market in U.S. stocks gathered steam.
The benchmark gained 0.7 percent to 2,600.03 as of 11:02 a.m. in New York, as stocks continued the recovery from a two-week decline. Technology and health-care shares led gains. Up 3 percent since September, the S&P 500 is on course for its ninth straight quarterly advance, matching the longest winning streak in almost two decades.