S&P 500 posts record high on strong economic data, ebbing virus fears

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A trader works at the New York Stock Exchange (NYSE) in New York, U.S., February 4, 2020. REUTERS/Bryan R Smith

NEW YORK (Reuters) – The benchmark S&P 500 posted a record closing high on Wednesday as U.S. stocks rallied for a third straight day on encouraging U.S. economic data and waning fears of the financial fallout from a virus out of China.

The Dow Jones Industrial Average .DJI rose 483.02 points, or 1.68%, to 29,290.65, the S&P 500 .SPX gained 37.12 points, or 1.13%, to 3,334.71 and the Nasdaq Composite .IXIC added 40.71 points, or 0.43%, to 9,508.68.

Reporting by Lewis Krauskopf; Editing by Chris Reese

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