The S&P 500 index closed above 5,000 for the first time on Friday, with investors showing continued optimism about cooling inflation, strong earnings and a resilient economy.
Aside from being a big, round number, 5,000 isn't a particularly important threshold for the broad U.S. stock market barometer in and of itself.
Financial pros say you'd be wise to avoid making any wholesale changes to your strategy based on short-term moves in the stock market.
"Investors in general, but especially younger investors, should ignore the headlines about all-time highs in the S&P 500," says Kevin Brady, a certified financial planner at Wealthspire Advisors in New York City.
Because they are not uncommon, meaning all-time highs more often than not lead to further all-time highs in short order."
Persons:
we're, Dana D'Auria, Kevin Brady
Organizations:
CNBC, Wealthspire Advisors
Locations:
New York City