Stock Market Today: S&P 500 Closes Above 2,000 for the First Time

NEW YORK (TheStreet) -- U.S. stock markets pushed further into record territory Tuesday, with the S&P 500 hitting new highs and finishing above 2,000 for the first time and the Dow Jones Industrial Average reaching new records of its own.

The markets continued to trend up after the S&P 500's crossing of the 2,000-point milestone on Monday. Even with mixed readings coming from reports on durable goods and home prices, confidence remained from reassurances last week by Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi that ultra-low interest rates will remain intact.

Headlines of Burger King's (BKW) confirmation that it will buy Tim Hortons (THI) for about $11 billion and Warren Buffett's involvement in Burger King's takeover move also were lifting investor sentiment.

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The Dow rose 0.17% to 17,106.70, after touching a fresh intraday high of 17,153.80. The S&P 500 advanced 0.11% to 2,000.02, trading up to 2,005.04 on Tuesday. The Nasdaq increased 0.29% to 4,570.64.

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"With the fed funds rate well below neutral for many more years this expansion will likely also continue for many more years," said Torsten Slok, chief international economist, Deutsche Bank Securities. "This recovery is still young."

After Tuesday, the SPX will have closed above its 200-day moving average of 1,875 for 445 consecutive trading days, the fifth such longest streak in the history of the S&P 500, according to MKM Partners' chief market technician Jonathan Krinsky.

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