It was a big day for the Dow Jones Industrial Average, which posted a record record close of 27,895 points.
It is up more than 20% over the past year, but the benchmark was down more than 40% from a year ago.
The S&P 500, which had fallen to an all-time low at 3,957, has risen a remarkable 27% over this same period.
The index rose 2.2% to 1,837.03.
The Nasdaq composite was up 5.4%, while the Russell 2000 fell 2.7%.
The SACD composite index rose 5.3%.
“Big picture: We are all just going to have to keep our eye on the big picture,” said Jeff Bostock, a professor at Boston University’s business school and founder of Bostocks Capital Advisors, a venture capital firm.
“I think the market will be just fine in 2018.”
The Dow has rallied more than 300 points over the last year.
The 10-year Treasury yield has risen nearly 9%.
The 10 year Treasury yield is 1.65%, compared with 1.38% a year earlier.
The Fed’s rate hike next month is expected to be followed by further monetary easing.
The S&am index is up a stunning 10.9% since its July 31 low of 7,958.05.
The stock market is up nearly 50% in the last three months.
The Dow is up 8.7% since March 31.