S&P 500 Closes Above 5,000 for First Time as Earnings Momentum Fuels Stock Rally
• S&P 500 closes above 5,000 for the first time, extending Wall Street's rally amid renewed optimism about corporate profits and the economy
• Tech stocks lead the gains, with the Nasdaq 100 rising 1%; cryptocurrencies also advance as Bitcoin tops $47,000
• Upbeat earnings reports continue to roll in, with 80% of S&P 500 companies beating expectations so far this season
• Some strategists warn the market looks overstretched and overbought, flashing contrarian signals to sell
• Questions linger about sustainability of rally after 24% surge last year, but analysts say still no sign of material weakness in economy