S&P 500 clears 3,000 barrier on hopes of recovery, Covid-19 vaccine

US stocks jumped and the S&P 500 crossed 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-US tensions.

The benchmark index traded above the key psychological level for the first time since March 5, but came off session highs as White House advisor Larry Kudlow said President Donald Trump was “so miffed with China on virus and other matters that the trade deal is not as important to him as it once was.”
 

Still, all 11 S&P sector indexes were trading higher, with cyclical financials and industrials rising