S&P 500 soars to five year high

City A.M. Reporter

S&P 500 advanced to a five-year intraday high yesterday on signs of strength in the housing and job markets and on better-than-expected results from online marketplace eBay.

The S&P stayed on track for its third consecutive advance, which pushed the index above an intraday peak set in September to its highest since December 2007.

Equity markets have rallied since the start of the year, with investors starting to rotate away from low yielding bonds.