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New Record Set as US Stocks Continue to Surge

ByEditor

Feb 13, 2024

The S&P 500 index, which tracks the price development of the 500 most important companies in the United States, experienced a significant increase of 22.5 percent over the past 15 weeks as of Friday’s stock market close. This historic rise has caught the attention of Americans, as it marks a period of significant growth for the stock market. According to Dow Jones market data, the S&P 500 index has seen gains in 14 out of the last 15 weeks, a winning streak not seen since early 1972 during Richard Nixon’s presidency.

The S&P 500’s 22.1 percent gain over 15 weeks represents the biggest consecutive increase for the index since August 28, 2020. Additionally, the index crossed 5,000 for the first time on Friday. Other US stock market indices have also been performing at historically high levels, with the Nasdaq Composite index and the Dow Jones DJIA both experiencing similar patterns of growth.

The rising trend in US stock markets can be attributed to improved company earnings, particularly among large technology companies, as well as the US central bank’s decision to stop raising interest rates and the expectation of future interest rate decreases. Investors have also been motivated by the potential efficiency improvements brought by artificial intelligence in companies.

Despite concerns last year about an impending recession, economic growth has continued, contributing to the 14-month period of stock market growth. The improved economic outlook has led to rising stock markets in the US, with companies confirming improved earnings and increased interest from investors.

As of Friday, the stock market’s record-breaking growth has been the subject of attention for many Americans. The S&P 500’s significant gains over the past 15 weeks indicate a strong period of economic growth and prosperity for the stock market.

By Editor

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