NEW YORK — An early surge on the stock market Thursday put the S&P 500 index on track for another record high and erased the market’s losses from a brutal sell-off in May.
The S&P 500 rose 1% as of 10 a.m. Eastern time and was slightly above the record close it reached April 30. The index has now wiped out its losses from May, when growing economic jitters prompted a 6.6% dive.
Technology stocks were the biggest gainers in a sign that investors are in a bullish mood and hungry for riskier holdings. Oracle rose 6.5% after it reported solid financial results. Microsoft gained 1.1%. Health care and industrial stocks also rose.