The S&P 500 hit 7,000 for the first time in history before retreating, marking a significant milestone. It gained 0.3% to reach a session peak of 7,002.28 but closed below the threshold at 6,978.03. Investors anticipate a close above 7,000 to confirm the milestone, following recent rapid 1,000-point advancements.

The stock market saw a major rotation, with non-tech stocks leading the rally, although tech companies are still crucial for explosive growth. The S&P 500’s push towards 7,000 coincided with earnings reports from tech giants. President Trump’s foreign policy moves caused market volatility but major indexes closed near record levels.

The Dow Jones Industrial Average ended at 49,015.60, near its record, while the Nasdaq Composite closed 0.4% below its peak. Gold, silver, and copper prices surged to new highs. The Russell 2000 index outperformed the S&P 500 in 2026, reflecting optimism about a growing U.S. economy and investor interest in higher-growth, riskier stocks.

Read more at Yahoo Finance: S&P 500 touches 7,000 for the first time, led by a surprising group of stocks