The US benchmark S&P 500 stock index set record intraday and closing highs on Monday as last week’s strong monthly US jobs report worked its way into financial markets, and European shares rose as a single candidate emerged to succeed David Cameron as British prime minister.

The S&P 500 ended at a record high of 2,137.16 after touching a record intraday high of 2,143.16. It overtook the previous highs touched in May 2015 as investors harbored greater optimism about the US economy after last Friday’s stronger-than-expected jobs report.

The Dow Jones industrial average closed up 80.19 points, or 0.44 percent, at 18,226.93. The S&P 500 ended up 7.26 points, or 0.34 percent, at 2,137.16. The Nasdaq Composite closed up 31.88 points, or 0.64 percent, at 4,988.64.

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Posted in: Indian Market Tips