The S&P 500 surged higher on Wednesday, extending the recent rally that has pushed the benchmark index to record highs.
The index was up 1.4% in afternoon trading, with all 11 sectors in positive territory. The rally was broad-based, with all 500 stocks in the S&P 500 trading higher.
The S&P 500 rallied today, extending gains to 1.4%. The index faced some resistance from the March 22 intraday high of 4039, but managed to break through and continued rallying.
There’s something of a triangle or wedge shaping up, so the index could see more volatility in the near future.
As we near the end of the quarter, it’s important to be aware of the potential for mixed signals in the markets. However, recent stabilization in regional banks and diminishing risks of a financial crisis make now a good time to consider investing in this sector.