S&P 500 closes over 2,000 for first time

Published On: Aug 26 2014 04:16:23 PM EDT
Updated On: Aug 26 2014 07:26:43 PM EDT

The S&P 500 closed above 2,000 for the first time on Tuesday. The Dow finished up 30 points.

The jumps came after reports cast a favorable light on the U.S. economy, including a rise in durable goods orders, CNBC reported.

If you've had your money in the market since 2009, you're likely very happy -- and a lot richer. The S&P 500 is now up more than 200 percent since this bull market began in March 2009. Many people invest in retirement funds that mimic the S&P 500.

This latest milestone comes as investors see new signs that the economy is strengthening, The Associated Press reported.

"There's perhaps a small psychological boost when you get over such a significant price level," Cameron Hinds, regional chief investment officer at Wells Fargo Private Bank, told the AP.

U.S. stocks, in the midst of a five-year rally, have surged in the final weeks of the summer after dipping earlier this month on concerns about geopolitical tensions in Ukraine and the Middle East, the AP reported.

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