The US Federal Reserve building in Washington DC (Image: Wikimedia/Jbarta)

Forget the 175,000 COVID-19 victims in the United States -- a number growing by 1000 every day -- and rejoice: the S&P 500 is back above its record highs of February.

It only fell across the line with a weak 7.7 point rise, but it finally joined the Nasdaq, which has been hitting records for some time. The Dow Jones Index remains slightly adrift of February records, but still higher than at any point before last November.

Investors have US taxpayers and the Federal Reserve -- especially chairman Jay Powell -- to thank for the records, because this is a government-run and government-funded rebound.