S&P 500 hits 7,000 for the first time, led by a surprising group of stocks

The S&P 500 index reached 7,000 for the first time in history, marking a significant milestone in the stock market. This achievement comes after a rally that has seen large-cap stocks rise significantly. The index's rapid ascent to this level reflects a major rotation in market leadership, with traditionally non-leading sectors like energy and materials driving the gains. Despite this, experts suggest that tech companies need to lead for a more explosive rally. Other major indexes also approached record levels, indicating a broader market strength.