The S&P 500 closed above 2,000 for the first time on Tuesday. The Dow finished up 30 points.
The jumps came after reports cast a favorable light on the U.S. economy, including a rise in durable goods orders, CNBC reported.
If you've had your money in the market since 2009, you're likely very happy -- and a lot richer. The S&P 500 is now up more than 200 percent since this bull market began in March 2009. Many people invest in retirement funds that mimic the S&P 500.
This latest milestone comes as investors see new signs that the economy is strengthening, The Associated Press reported.
"There's perhaps a small psychological boost when you get over such a significant price level," Cameron Hinds, regional chief investment officer at Wells Fargo Private Bank, told the AP.
U.S. stocks, in the midst of a five-year rally, have surged in the final weeks of the summer after dipping earlier this month on concerns about geopolitical tensions in Ukraine and the Middle East, the AP reported.