S&P 500 trades less than 1% from its historic Feb. 19 closing record in early Monday action

The S&P 500 index trades within 1% of its all-time closing high early Monday, as the broad-market benchmark attempts to recover all of its lost ground from the crushing declines in March wrought by fears of the economic impact of the COVID-19 pandemic. The S&P 500 index was most recently up 0.3% at 3,360, putting it about 0.77% from its Feb. 19 closing high at 3,386.15. Recent gains on Wall Street have come amid a modest rotation into so-called value stocks, or beaten-down areas of the market, that had taken a backseat to technology-related stocks that helped to power the bulk of the recovery from the coronavirus-induced gains over the past several months thus far.

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