New York CNN —The S&P 500 closed above the 5,000 level on Friday for the first time as bullish sentiment spreads across Wall Street and investors cheered fresh data showing progress on inflation.
The S&P 500 briefly topped 5,000 for the first time intraday on Thursday.
It took almost 41 years for the S&P 500 to reach its first major milestone of 1,000, which it hit on February 2, 1998, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
When the S&P 500 sets a new high in January, found Sam Stovall at CFRA Research, it reaches new highs in February about 75% of the time.
The S&P 500 is up about 5.4% so far this year.
Persons:
Howard Silverblatt, Dow, Sam Stovall, ”, Scott Wren
Organizations:
New, New York CNN, Federal Reserve, Dow Jones, CFRA Research, Fed, Big Tech, Nvidia, Microsoft, Meta, Wells Fargo Investment Institute
Locations:
New York, Wells Fargo