February 24, 2024 1:21 pm
Historic Winning Streak for US Stocks as New Limit is Broken on Friday

The stock markets in New York closed on Friday with the S&P 500 rising 22.5 percent over the past 15 weeks, marking a historic increase. This index describes the price development of the 500 most important companies in the United States. According to Dow Jones market data, the S&P 500 index has risen in 14 out of the last 15 weeks, with the last time it saw a similar winning streak being in 1972 during Richard Nixon’s presidency.

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

Stock exchanges have confirmed improved earnings of companies, especially in large technology companies, and there are expectations that interest rates may decrease in the near future. Investors are also inspired by potential efficiency improvements brought about by artificial intelligence.

Last year, there was talk of a recession but economic growth was allowed to continue leading to a remarkable rise in American stock markets over a period of almost one and half years. Despite this, some experts predict that this trend may not continue as we approach mid-year evaluations and earnings season for many US companies.

Leave a Reply