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.

Source: CNN February 10, 2024 11:45 UTC