The following is an excerpt from April Joyner | August 21, 2018 | reuters.com |
NEW YORK (Reuters) - The benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, buoyed by strong earnings reports in the consumer sector and relative calm in the trade dispute between the United States and China.
The S&P 500 .SPX rose as much as 0.6 percent to a record intraday high of 2,873.23 points, topping its previous record high of 2,872.87 on Jan. 26, though it closed below both those marks.
Late in the day, stock market futures fell after U.S. President Donald Trump’s former personal lawyer, Michael Cohen, pleaded guilty to campaign finance violations and other charges, saying he made payments to influence the 2016 election at the direction of a candidate for federal office.
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