Business

US stocks gain; S&P 500 holds at 2,000 points

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A first: The S&P 500 closed above 2,000 as stocks got a lift from encouraging economic data. The index has risen 8.2% this year and gone without a correction (a drop of 10% or more) for nearly three years. It closed above 1,000 for the first time in 1998. On Tuesday, reports showed the biggest jump ever in durable-goods orders in July and a surprise gain in consumer confidence, to the highest since 2007. Amazon rose 2.3%; it’s buying the video game service Twitch. Seven of the 10 S&P 500 groups rose, with energy stocks leading. The Nasdaq biotech index added 1.3% to set a record, completing a rebound from its 21% fall from February through April.

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