What historic achievement have U.S. stocks recently reached?
The S&P 500 has seen gains for the 14th time in 15 weeks, a feat last accomplished in 1972.
This marks the largest 15-week advance since 2020, with a 22.1% rise.
The Federal Reserve’s shift in interest rate policy is credited as a key driver of the recent rally.
Strong U.S. economic performance has also bolstered investor confidence, defying recession expectations.
U.S. stocks have managed a historic feat not seen since the days of President Richard Nixon, with the S&P 500 index achieving gains for 14 out of the past 15 weeks. Echoing the robust performance of the early 1970s, this event marks the 13th occurrence of such a streak since the genesis of the index in 1957, adding a new chapter to the annals of stock market history.
The significance of this streak is amplified by the sheer scale of the advance, with the S&P 500 swelling by 22.1% over these 15 weeks, a surge reminiscent of the rapid climb seen in 2020. This impressive growth is not unique to the S&P 500; the Nasdaq Composite has mirrored this ascent, marking its own place in history with a similar winning streak.
Analysts turn their gaze to the Federal Reserve’s recent pivot from raising to potentially cutting interest rates as a catalyst for this bullish behavior. The Fed’s softened stance on monetary policy has prompted a wave of optimism, reinforcing beliefs that a conducive environment is being cultivated for continued market expansion.
Adding to this positive outlook is the surprising vigor of the U.S. economy. Contrary to some forecasts, a recession has sidestepped the nation’s economic landscape, with indicators suggesting that such a downturn may not loom on the horizon. This resilience has undoubtedly contributed to the market rally that has unfolded over the past year and a half.
Friday’s market close saw the S&P 500 reaching yet another record high, further cementing its weekly gains.
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