The S&P 500 sailed past 3,000 for the first time Wednesday, nearly five years after the index hit 2,000.
Medical implant manufacturer Abiomed led the S&P 500's historic run, surging a whopping 909% since the index reached 2,000 on August 26, 2014. Chipmakers Nvidia and Advanced Micro Devices both pulled off more than 700% gains in the five-year run.Traders work on the floor at the New York Stock Exchange.
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The S&P 500 surges above 3,000, stocks hit record highs after the Fed reaffirms a rate cut is comingPowell's comments reassured investors whose hopes for an adjustment fell after the jobs report out last week showed that hiring rebounded in June. MAGA BABY
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