S&P 500 hits new high as Santa rally begins

The S&P hit a record high on Wednesday, with broad-gains across sectors supporting the main indexes during a shortened Christmas eve session. The benchmark S&P touched an intraday record high of 6,921 points, surpassing its previous peak in October, as investors continued to bet on more interest rate cuts from the Fed Reserve next year following mixed economic data. The US economy grew at its fastest pace in two years in the third quarter, government data showed on Tuesday.



Reuters