The record-setting rally in U.S. stocks is back on.
After a five-week hiatus without any all-time highs, the S&P 500 Index climbed 1.1 percent to 2,488.04, posting its 31st record close this year.
Stocks rallied as an anticipated North Korean missile test failed to materialize and Hurricane Irma struck the U.S. with less force than feared. The advance pushed the S&P 500’s 2017 gain to 11 percent.
Wall Street strategists see limited room for further gains in coming months. Their average forecast points to a year-end target of 2,488 for the S&P 500, according to a Bloomberg survey conducted at the end of July.
Source: Bloomberg Pro Terminal
Trader I. Ivanov
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