By Ryan Vlastelica
NEW YORK (Reuters) - The S&P 500 vaulted above 2,000 for the first time on Monday, with financials and biotechnology stocks lifting the benchmark index to a new record as investors bet on equities as a preferred asset over bonds.
The significance of the milestone was more psychological than fundamental, and it represents the cumulation of a six-year rally that has boosted retirement accounts for Americans from Wall Street to Main Street, though the gains have largely benefited wealthier Americans.
On a total-return basis the S&P 500 has more than tripled from its 2009 low hit during the financial crisis.
(Editing by Bernadette Baum)