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S&P 500 Traders Hope This Round Number Is Kinder Than Last

  • U.S. stock benchmark gauge climbs above 3,000 for first time
  • Equities rise after Fed Chairman Powell’s dovish testimony
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Powell: Trade, Global Economic Concerns Weigh on U.S. Economic Outlook
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As traders celebrate a thousand-point breakthrough for the S&P 500, they’re trying not to think too hard about the last one.

It took around 1,800 days for the benchmark gauge of American equities to travel the thousand points to 3,000, a feat it completed Wednesday, thanks to Federal Reserve Chairman Jerome Powell’s dovish testimony to Congress. Anyone who was around back when 2,000 was breached in 2014 remembers the stretch not for its round-number symmetry, but as the start of one of the longest fallow periods in bull-market history.