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Year of Pain Erased for Bulls as S&P 500 Surges Back to Record

  • Breakout follows 13-month drought when fund outflows surged
  • Milestones like this preceded an average 13% gain since 1946
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Levitt: It's Difficult for Investors to Go to Cash

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It’s a year most investors probably want to forget. Now, maybe they can.

After 13 months in which the S&P 500 Index twice plunged into corrections and daily volatility surged, the benchmark gauge for American equity just rebounded back into record territory, rising 0.3 percent Monday to surpass the previous high of 2,130.82 dating to May 21, 2015. Shares have rallied in seven of the last nine days as reports signaled strength in the U.S. economy.