Historic Market Milestone : S&P 500’s Record 14 out of 15 Weeks Surge

Historic Market Milestone : S&P 500’s Record 14 out of 15 Weeks Surge

Historic Market Milestone : In stock market many things happen but U.S stocks just did something pretty rare , something that hasn’t happened since 1972. A big index of major U.S companies, The S&P 500 , went up for the 14th time in 15 weeks. The last time it had such a good streak was in March 1972, way back when Richard Nixon was the president.

Historic Market Milestone
Historic Market Milestone

Historic Market Milestone Update

The S&P 500 had such a winning streak since it started in 1957 and this is the 13th time in history. In the past 15 weeks , it went up by 22.1% , which is the biggest rise in this timeframe since August 2020.

On Friday, The S&P 500 closed above 5,000 for the first time , marking its 10th record closing this year. Another big index focusing on tech companies , The Nasdaq Composite , also had a great run for 14 out of 15 weeks.

This week , The Dow Jones Industrial Average , which tracks 30 big U.S companies , barely went up , since May 1995 , this the first time this happened. The Dow Jones Industrial Average started in the late 19th century , since then , this kind of winning streak has only occurred 14 times.

For this positive trend in the stock market 

 Federal Reserve’s decision is the main reason , which not raise interest rates and maybe even cut them later this year. According to The Chief Investment Officer at Independent Advisors Alliance , Chris Zaccarelli , this change in Fed policy has been the biggest driver for the market going up in the past 15 weeks.

The surprising strength of the U.S economy is another factor contributing to the stock market’s success. Despite some concerns , there was no recession last year , and it doesn’t seem like there will be one anytime soon.

On Friday , expect for the Dow , U.S. stock finished mostly higher. But overall , all three major indexes ended the week with gains. The S&P 500 closed at 5,026.61 , up 0.6% , bringing its weekly advance to 1.4% . The Nasdaq Composite closed at 15,990.66 , up 1.3% , with a 2.3% weekly advance. The Dow Jones Industrial Average finished slightly down at 38.671.69 , with a weekly gain of less than 0.1%.

 

Read More

Beginner’s Tips for Farmland Investment | Investing in Farmland for Beginners 

Leave a Comment