S&P 500 and Nasdaq on track for record-breaking performance

  • S&P 500 on track to rise for the 14th week out of 15, a feat not seen since 1972
  • S&P 500 has risen 21.8% over the past 15 weeks, the largest advance since August 2020
  • Nasdaq Composite also set to rise for the 14th week out of 15
  • U.S. stocks have been driven higher by the Federal Reserve’s pivot away from raising interest rates
  • Surprising strength of the U.S. economy has also contributed to the rally in stocks

U.S. stocks are about to accomplish something that hasn’t been done since 1972. The S&P 500 is on track to rise for the 14th week out of 15, a feat not seen in almost 50 years. The index has recorded a comparable stretch of weekly gains only 13 times since its inception in 1957. The magnitude of the index’s rise over this period is also noteworthy, with a 21.8% increase over the past 15 weeks, the largest advance since August 2020. The Nasdaq Composite is also set to rise for the 14th week out of 15, marking a historic winning streak. This remarkable performance can be attributed to the Federal Reserve’s pivot away from raising interest rates and the surprising strength of the U.S. economy. The market has responded positively to the Fed’s decision to hold rates steady or possibly cut them later this year. Additionally, the absence of a recession last year and the promising outlook for the U.S. economy have fueled the rally in stocks. As the week comes to a close, U.S. stocks continue to trade mostly higher, with the S&P 500 and Nasdaq Composite on track for weekly gains.

Public Companies: S&P 500 (SPX), Dow Jones Industrial Average (DJIA), Nasdaq Composite (COMP), Russell 2000 (RUT)
Private Companies:
Key People: Richard Nixon (President), Chris Zaccarelli (Chief Investment Officer at Independent Advisors Alliance)

Track all markets on TradingView

Factuality Level: 7
Justification: The article provides historical data and statistics about the performance of the S&P 500 and other major U.S. equity indexes. The information is based on Dow Jones Market Data and is supported by specific dates and numbers. However, there is no analysis or commentary from other sources to provide a broader perspective or context for the market performance.

Noise Level: 3
Justification: The article primarily focuses on the historical performance of the S&P 500 and other major U.S. equity indexes. It provides some context and comparisons to past winning streaks, but it lacks in-depth analysis or insights into the underlying factors driving the market. The article also includes some repetitive information and unnecessary details about the current trading day. Overall, it contains mostly noise and filler content.

Financial Relevance: Yes
Financial Markets Impacted: The article discusses the rise of the S&P 500 and other major U.S. equity indexes, indicating potential impacts on the stock market.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article focuses on the performance of the stock market and does not mention any extreme events or their impacts.

Reported publicly: www.marketwatch.com