The S&P 500 crossed the 4,000-point threshold for the first time on Thursday as the major U.S. indexes reported gains to start the month of April. Markets responded to President Joe Biden unveiling his $2 trillion infrastructure plan on Wednesday, which would include a provision to raise the corporate tax rate to 28% to fund it.
The S&P’s rise from 3,000 to 4,000 took 434 trading days, the shortest gap in 1,000 point milestones in the history of the index. Tech stocks rallied for a second consecutive day as Netflix stock increased 3.4%, Google’s parent company Alphabet gained 3.26%, Amazon climbed 2.16% and Microsoft closed the day up 2.79%.
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