The S&P 500 hit an all-time high surging by almost 1% to hit 2,956 shortly after markets opened in the US as investors remained optimistic that the Federal Reserve was planning to reduce interest rates.
The value of the S&P has climbed around 17% this year after dropping significantly from last year's high of 2,930. Its last high was in May when it hit 2,954.
Traders were comforted by the words of Fed chair Jerome Powell, who yesterday said the central bank's policy makers saw a "strengthened" case for cutting the US interest rate in a bid to boost spending and bolster inflation.
The Dow Jones Industrial Average was up 246 points, or 0.9%, to hit 26,750 in early trading, while the Nasdaq climbed 94 points - 1.2% - shortly after the opening bell, to trade at 8,080.