The benchmark S&P 500 index hit its highest level in more than four years yesterday, spurred by solid gains in energy, technology and financial stocks.
The S&P has now risen more than 11 per cent since early June. The wealth effect generated by a buoyant US stock market could also provide a timely boost for the Obama administration in what is expected to be a closely fought election in November.
The rally has gathered steam as investors await efforts by the European Central Bank next month to contain the eurozone crisis.
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