• Tue. Mar 5th, 2024

Unprecedented Rise in the S&P 500: US Stock Market Exceeds 20 Percent Growth Since Nixon

ByEditor

Feb 13, 2024
Historic Winning Streak for US Stocks as New Limit is Broken on Friday

The S&P 500 index in New York closed on Friday with a historic increase of 22.5 percent over the past 15 weeks. This index measures the price development of the 500 most important companies in the United States. According to Dow Jones market data, the S&P 500 has risen in 14 out of the last 15 weeks, matching a winning streak seen only once before during Richard Nixon’s presidency in 1972.

The stock market has been performing exceptionally well, with other US indices also experiencing a historically high pace of growth. The Nasdaq Composite index has risen for 14 out of 15 weeks, and the Dow Jones DJIA has only had such a long period of rising twice since its establishment.

Investors are optimistic about potential efficiency improvements brought about by artificial intelligence and have been inspired by improved earnings reports from companies, especially large technology companies. Additionally, the US central bank has stopped raising interest rates, leading to an expectation of future rate decreases.

Despite concerns about a recession earlier in the year, economic growth has allowed for a remarkable rise in American stock markets over the past year and a half.

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