US: S&P 500 hits record high on upbeat consumer spending, earnings optimism

[NEW YORK] The S&P 500 hit an all-time high for the first time since late September on Monday, buoyed by upbeat consumer spending data and a largely positive earnings that helped restore investors' faith in the decade-long bull run.

The benchmark index crossed its record high of 2,940.91 hit on Sept 21, a day after hitting another closing record high.

At 9.32 am ET the Dow Jones Industrial Average was up 4.92 points, or 0.02 per cent, at 26,548.25, the S&P 500 was up 1.36 points, or 0.05 per cent, at 2,941.24 and the Nasdaq Composite was up 7.17 points, or 0.09 per cent, at 8,153.57.

REUTERS