NEW YORK — The Standard & Poor’s 500 index is flirting with a new milestone: 1,900.
The index briefly climbed above that level on Tuesday before dropping back to close just below it.
Still, it set an all-time closing high by a fraction of point.
Stocks have gained as most investors remain optimistic that the economy will start to accelerate this year following a cold winter that stymied growth. First-quarter corporate earnings came in better than expected, giving stocks a lift.
Whether the S&P 500 climbs or falls back now depends on how the economy develops, said John Canally, chief market strategist for LPL Financial.