S&P 500 Reaches 2,000 Milestone for First Time Ever

August 25, 2014 10:45 AM EDT

The S&P 500 moved above the 2,000 point level for the first time as market momentum continues to drive stock gains.

The journey to 2,000 took 16 years since the index crossed 1,000 in February 1998. Since reaching the 1K level, strong bear markets drove the S&P 500 back below the mark twice, putting investor confidence at risk each time.

Investors and traders remain skeptical about what sort of impact the Fed raising interest rates will have. Others see the high valuation in stocks as another risk to further upside.

However, upcoming actions by the Fed might not be all negative; some believe markets will hold gains as a rise in rates could mean that Fed officials are satisfied with how the economic recovery has taken shape. Of course, that all depends on the pace of rate hikes, with slower gains generally seen as better for stocks.

Top 10 performers in the index for 2014 are the following:

  • Newfield Exploration (NYSE: NFX) - up 72.2 percent
  • Southwest Airlines (NYSE: LUV) - up 70.2 percent
  • Electronic Arts (Nasdaq: EA) - up 66.4 percent
  • Under Armour (NYSE: UA) - up 61.8 percent
  • Alcoa Inc. (NYSE: AA) - up 55.8 percent
  • Williams Cos (NYSE: WMB) - up 54.5 percent
  • Micron (Nasdaq: MU) - up 53.1 percent
  • Edwards Lifesciences (NYSE: EW) - up 49.7 percent
  • Nabors Industries (NYSE: NBR) - up 59.9 percent
  • Allergan, Inc. (NYSE: AGN) - up 49.3 percent

Broader markets are all positive Monday.

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