The Standard & Poor's 500 stock index broke new ground today, closing at 1,569, an all-time high that erased the record set on Oct. 9, 2007.
The S&P joins the Dow Jones Industrial Average, which broke its 2007 record earlier this month.
Both indices have now recovered all the losses they suffered during the Great Recession.
The Wall Street Journal reports:
"The S&P 500 had flirted with its closing record for two weeks before finally vaulting over that level Thursday. It had come within five points of the closing high in seven of the past 10 sessions.
"'The market has been trying and trying, and we finally crossed the line,' said Quincy Krosby, a market strategist at Prudential Financial, PRU -0.20% which manages roughly $1 trillion in assets. 'Having the Dow reaching new highs was good, but the S&P 500 is broader, it's bigger... it's an important message for investors.'"