S&P hits record high as economy shows signs of strength

The gains in U.S. stocks were broad-based, with seven of the 10 major S&P sectors higher. "Investors are chasing returns because there is no yield in the bond market," said Andre Bakhos, managing director at Janlyn Capital in Bernardsville, New Jersey. The S&P 500 touched a record intraday high of 2139.34 points, topping a high of 2134.72 it hit in May 2015.