The stock markets in New York closed on Friday with the S&P 500 rising 22.1 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 S&P 500 index is now up an impressive 22.1 percent over 15 weeks, which is the largest consecutive gain for the index since August 28, 2020. The Nasdaq Composite index has also been rising at a historically high pace and has seen a similar rise for 14 out of the past 15 weeks. Other US stock market indices have been performing exceptionally well too.
Improved earnings of companies, especially large technology companies, have contributed significantly to this growth. Additionally, investors are inspired by potential efficiency improvements brought about by artificial intelligence and have also benefited from lower interest rates due to US central bank’s decision not to raise them further at present.
Last year, economic growth was allowed to continue despite expectations of a recession leading to a remarkable rise in American stock markets for over a year now. Despite these positive developments, there are concerns about inflation and uncertainty surrounding political events that could impact future market trends.