The S&P 500 rose to a fresh intraday high, drawing closer to snapping what has been the Index’s longest stretch without a closing record in two years. Signs of a buoyant labour market, strong consumer spending and extended corporate earnings growth have helped U.S. stocks edge higher over the summer. Yet the gains have been modest, and new highs elusive, the S&P 500 briefly topped its Jan. 26 closing record before edging just below the level again. Earlier in the month, the index had gotten within 0.5% of the January record before withdrawing again. If the S&P 500 closes above the level, it will have cleared what some investors say has been a black mark for the stock market-reassuring those who have worried that a months long stretch without a new high pointed to broader weakness in the market. The S&P 500 was recently up 0.2%, the Nasdaq Composite gained 0.8% and the Dow Jones Industrial Average advanced 0.2%. The US gold price gained 0.5% to 1,195.50 US$/oz.
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