S&P 500 and Nasdaq Reach Record Highs Tuesday

What Happened:

• With strong housing data and some better than expected retail earnings reports both the S&P 500 and the Nasdaq reached record highs on Tuesday thereby ending the shortest bear market in history.

• This is the first time the S&P 500 has surpassed its previous peak in February since the pandemic started. This is also the 129th record close under President Trump.

• The resurgence comes amid a crisis that has resulted in historic job losses, bankruptcies and shrinking corporate profits after the economic fallout from the Covid-19 pandemic.

Photo Credit: Alankitassigments