(Reuters) – U.S. stocks jumped and the S&P 500 breached 3,000 points on Tuesday as optimism about a potential coronavirus vaccine and a revival in business activity helped investors overlook simmering Sino-U.S. tensions.
The benchmark index traded above the key psychological level and also above its 200-day moving average, a closely watched long-term trend indicator, for the first time since March 5.
All 11 S&P sector indexes gained in early trading, with cyclical financials .SPSY, industrials .SPLRCI and energy .SPNU stocks jumping more than 3%.
The S&P 500 has risen about 37% from its March lows on a raft of central bank and government stimulus, and is now just about 11% below its February record high.
On Monday, California decided to reopen in-store retail businesses and places of worship from one of the most restricti