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 S&P 500 index is now up 22.1 percent over 15 weeks, which is the largest consecutive gain for the index since August 28, 2020. The index crossed 5,000 for the first time on Friday, and other US stock market indices have also been rising at a historically high pace. The Nasdaq Composite index has seen a similar rise for 14 weeks out of 15, and the Dow Jones DJIA has only had such a long rising period 14 times since its establishment.
Investors have been inspired by potential efficiency improvements brought about by artificial intelligence, as well as improved earnings from companies, especially large technology companies. The US central bank has also stopped raising interest rates, creating an expectation of future interest rate decreases. Last year, the market was prepared for a recession, but economic growth has been allowed to continue leading to a nearly one-year rise in American stock markets.