S&P 500 and Nasdaq
Close at Record Highs The S&P 500 finished more
than three points above
its closing high at 2,394. The Nasdaq composite
closed almost 10 points above
its previous high at 8,120. The closings represent a
bounce back after heavy
losses on December 24. The losses followed the
longest ever bull run of the market and nearly pulled
the Nasdaq into
bear-market territory. A bear-market occurs
when the market declines
at least 20% following a peak. The current bounce back
was powered by health-care
and consumer-discretionary sector gains.
