Midday Stock Market Update: S&P 500 Hits Record High

The S&P 500 on Monday rose to a record high of 1,851.66 in morning trading, clearing both the intraday and closing records set on Jan. 15.In midday trading, the S&P 500 gained 21.60 points, or 1.18 percent, to 1,857.85. The Dow Jones industrial average soared 185.99 points, or 1.15 percent, to 16,289.29. The Nasdaq Composite added 45.51 points, or 1.07 percent, to 4,308.89.