S&P 500 posts high, extends 2019 rally; Alphabet falls late

NEW YORK (Reuters) – The S&P 500 set an intraday record high on Monday, bolstering the view that the decade-long bull market has further to run, after consumer spending rose in March and inflation data was benign.

FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

The S&P 500 posted 38 new 52-week highs and no new lows; the Nasdaq Composite recorded 79 new highs and 25 new lows.

Volume on U.S. exchanges was 5.81 billion shares, compared to the 6.56 billion average over the last 20 trading days.

(This story has been refiled to to say Alphabet, not Google, in headline).

Additional reporting by Shreyashi Sanyal and Amy Caren Daniel in Bengaluru and Sinead Carew in New York; Editing by Tom Brown

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