S&P 500 hits record high on vaccine, stimulus bets

The S&P 500 hit a record high moments after the open on Wednesday, as hopes for a vaccine-linked economic recovery and more domestic fiscal stimulus sparked demand for economically sensitive stocks such as banks and industrials.

The S&P 500 opened higher by 3.73 points, or 0.10pc, at 3,705.98, the Dow Jones Industrial Average rose 55.93 points, or 0.19pc, at the open to 30,229.81, and the Nasdaq Composite gained 8.91 points, or 0.07pc, to 12,591.69 at the opening bell.