Investors cheer: S&P 500 hits all-time high

August 21, 2014: 4:15 PM ET
August a hot one for stocks
NEW YORK (CNNMoney)

If you kept your money in the stock market this summer, you're likely feeling pretty smart now.

The start of August was rough for stocks as the Russia-Ukraine standoff, the Israel-Gaza conflict and terrorist group activity in Iraq all flared again. While serious problems remain in each of these regions, their impact on the U.S. economy so far has been limited.

A stock market bounce back is in full effect.

On Thursday, the Dow closed above the 17,000 mark for the first time since July 24.

Not to be outdone, the S&P 500 set a new all-time high of just over 1,992. It's the 28th record close this year for the popular index of U.S. stocks.

Many Americans invest in funds and ETFs that mimic the investments of the S&P 500 Index.

SP 500 record close
The S&P 500 closed at a new record above 1,992 on August 21.

Thursday's surge is part of a week of robust stock market gains.

Related: 3 reasons stocks are still charging ahead

Strong corporate earnings and U.S. economic data are soothing concerns about the health of America's businesses and overall economy. Hewlett-Packard (HPQ, Tech30) beat expectations in its quarterly report last night.

Jobless claims also came in lower than expected this morning, and data on U.S. housing prices showed the fastest rise in months.

CNNMoney's Fear & Greed Index is showing the reduction in nerves in the market. A week ago, the index was indicating "extreme fear," but it's now nearly neutral.

Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,399.67 19.26 0.12%
Nasdaq 4,316.07 57.64 1.35%
S&P 500 1,904.01 17.25 0.91%
Treasuries 2.18 -0.02 -0.82%
Data as of 7:24am ET
Company Price Change % Change
Apple Inc 99.76 3.49 3.63%
Bank of America Corp... 16.26 0.00 0.00%
Pfizer Inc 27.93 0.05 0.18%
Facebook Inc 76.95 4.28 5.89%
Microsoft Corp 44.08 0.00 0.00%
Data as of Oct 20