The S&P 500 hit its first record in more than a year Monday, a reflection of investors’ bets that the US economy remains a pocket of solidity in a troubled world.

A better-than-expected jobs report Friday was the latest boost to the S&P 500, which has gained more than 16% since falling to a yearly low in February. Stocks have been bolstered by signs of strength in the US economy, a recovery in oil prices and the Federal Reserve's cautious stance toward raising interest rates.