S&P 500 rockets to a new record high

Fortune

(Reuters) – U.S. stocks ended sharply stronger on Thursday and the S&P 500 closed at a record high as investors worried less about interest rates and a weaker dollar offered the possibility of stronger sales for U.S. multinationals.

The S&P 500 gained 22.62 points, or 1.08%, to end at 2,121.1, exceeding its previous all-time high close of 2,117.69 on April 24. The Nasdaq Composite had its strongest day since January.

After oscillating in what many investors view as a range for much of the past three months, the S&P’s gain in 2015 now stands at 3%.

The dollar moved to its lowest since January against a basket of currencies of major U.S. trading partners – good news for companies that have large foreign sales.

A report showing a dip in initial claims for state unemployment benefits last week did little to change broad expectations that the U.S. Federal Reserve would…

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