Another Record High for S&P 500 and Dow Jones
After the bull run in stocks last week, the S&P 500 and Dow Jones started the new week with a new record high, with SPX climbing above $6,000 points, while Dow Jones moved within reach of 45,000 points.
Earlier this month, the S&P 500 briefly dipped after breaking above the 6,000 level, triggering concerns of a deeper pullback. However, renewed buying interest quickly emerged, propelling the index back upward. Yesterday’s bullish gap higher, coupled with continued momentum today, pushed the SPX to a fresh all-time high.
S&P 500 Chart Daily – The Relentless Buying Continues
Drivers Behind the Stock Market Rally
The market’s recent optimism has been fueled by two key developments:
- Geopolitical Easing: The announcement of a truce between Israel and Lebanon has significantly improved global risk sentiment, reducing immediate geopolitical tensions.
- Market-Friendly Leadership: The appointment of Scott Bessent as Treasury Secretary has been well-received by investors. Bessent is viewed as a stabilizing figure, and his market-friendly reputation has bolstered confidence, particularly amid concerns about global economic headwinds.
These factors have combined to create a favorable backdrop for equities, driving the S&P 500 to unprecedented levels. The S&P 500 and NASDAQ indices maintained the upward momentum, with the former achieving new highs. Meanwhile, the Russell 2000 lags, pulling back slightly after nearing its historical peak. Tech giants such as Amazon and Microsoft are leading gains, contributing to the broader optimism in the markets. This indicates strong investor confidence despite mixed performances across indices.
Stock Market Overview
- S&P 500:
- Reached its all-time high close on November 11 at 6001
- Currently trading at 6035, up 34 points or 0.50% today
- NASDAQ:
- Trading at 19,130, up 80 points or 0.50%.
- All-time high closing level: 19,298.76, achieved on November 11.
- Dow Jones Industrial Average with a gain of 60 points or 0.2%.
- Russell 2000:
- Trading lower at 2,420, down 20.69 points or -0.7%.
- Yesterday’s close: 2,442, just below its all-time high close of 2,442.74 (November 2021).
Top Performers of the Day
- Microsoft: +2.01%
- Amazon: +2.69%
- Meta: +1.21%
- Oracle: +1.26%
- Alphabet: +1.08%
S&P 500 Live Chart
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