THE Standard & Poor's 500-stock index has rallied to the second-highest close in its history, as investors shrugged off eurozone concerns.
The S&P500 closed up 12.08 points, or 0.78 per cent, to 1563.77, just shy of its October 2007 peak of 1565.15.
The Dow Jones Industrial Average rose 112 points, or 0.8 per cent, to 14560. The blue-chip benchmark had fallen 64 points Monday as a eurozone official suggested a painful bailout of Cyprus's banks could be used elsewhere. The Nasdaq Composite Index rose 13 points, or 0.4 per cent, to 3248.
"Every time the market pulls back, we get [clients putting] money into our strategies," said Andrew Slimmon, managing director at Morgan Stanley Wealth Management.
"As bull markets mature, investors stop worrying about losing money and start worrying about missing out. And as the economy improves, people are feeling more comfortable getting involved in equities."
