NEW YORK (AP) — The U.S. stock market ran up to the edge of another record on Thursday.
The S&P 500 climbed 0.8% and is sitting just 0.05% below its all-time closing high, which was set in February. It briefly topped the mark during the afternoon in the latest milestone for the index at the heart of many 401(k) accounts, which had dropped roughly 20% below its record during the spring on worries about President Donald Trump’s tariffs.
The Dow Jones Industrial Average rallied 404 points, or 0.9%, and the Nasdaq composite gained 1%.
McCormick, the seller of cooking spices, helped lead the way and jumped 5.3% after delivering a better-than-expected profit report. The company also gave a forecast for profit over its full fiscal year that topped analysts’ expectations, including planned efforts to offset increased costs caused by tariffs.
