It was a small gain but a big milestone.
When US stocks closed fractionally higher on Tuesday, they set a record and capped a powerful, if uneven, rally fuelled by central bank stimulus — one that has wiped away all the market losses from the coronavirus pandemic.
The day was symbolic of the rally: more stocks fell than rose, but a few big tech companies pushed the S&P 500 over the line. Amazon was up more than 4 per cent on the day; Google’s parent company, Alphabet, was up 2.7 per cent.
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