It comes just one day after the tech-heavy Nasdaq index closed at a new record high.
Catch up on the developing stories making headlines.The Standard & Poor's 500 briefly hit a new record high during intraday trading on Tuesday morning.
While the S&P 500 dipped back into the negative after reaching its new high just around 10 a.m., the move was seen as significant for many as the index spiked higher than even its pre-pandemic levels.MORE: As COVID-19 financial crisis wages on, some economists warn of a divergent 'K-shaped' economic recovery
As the COVID-19 crisis overtook the U.S., the stock market entered a free fall before bottoming on March 23. Since then, however, equity markets have seen a remarkable rally -- with both the Dow Jones Industrial Average and the S&P 500 gaining approximately 50%.New York Stock Exchange shows the trading floor in New York, July 22, 2020.The tech sector, largely unhurt by the pandemic, led the way for most of those gains in the stock market.
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