Oct 28, 2019 - Economy

S&P 500 closes at record high for first time in months

The S&P 500 rose 0.5% to close at its highest level ever on Monday, hitting a new record for the first time since July.

Data: Money.net; Chart: Axios Visuals

By the numbers: The Dow Jones Industrial Average gained 131 points. The Nasdaq Composite closed up 1%.

Why it matters: The S&P milestone is one indication of rebounding confidence in the U.S. economy, which is a reversal from recession fears that hurt the stock market in recent months.

Go deeper: It could be a wild week for the stock market and economic reports

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