The S&P 500 and Dow just hit record highs

In recent news, the S&P 500 and Dow Jones Industrial Average have reached record highs, signifying a remarkable achievement for the stock market. This milestone is not only significant for investors but also reflects the overall health of the economy.

The S&P 500 is an index that tracks the performance of 500 large-cap companies listed on US stock exchanges. The Dow Jones Industrial Average, on the other hand, consists of 30 blue-chip stocks representing major sectors of the economy. Both indices are considered reliable indicators of market trends and investor sentiment.

The Dow Jones Industrial Average climbed 138.01 points, or 0.36%, to finish at 38,001.81. Monday’s gains pushed the blue-chip average to a new record and above the 38,000 level for the first time. The S&P 500 added 0.22% to 4,850.43, also reaching a fresh all-time high. The Nasdaq Composite advanced 0.32% to 15,360.29.

Macy’s rose more than 3% after rejecting a $5.8 billion proposal to take the retailer private. SolarEdge jumped roughly 4% on the back of the company announcing it would lay off 16% of its workforce.

The Federal Reserve officials whose comments have buffeted stocks will stay quiet ahead of policymakers' next meeting on Jan. 30. But readings on GDP and the Fed's preferred inflation gauge later in the week could shed light on the debate that has been driving markets: when the Fed will pivot to cutting interest rates.

Detrick pointed to signs like strong consumer spending, a healthy labor market, slowing inflation and a Federal Reserve that’s expected to start cutting interest rates this year. 

Stovall added that investors would not be buying if they believed the economy was heading for a recession. (Forecasters say there’s a 42% chance of a recession this year, according to a recent survey from Wolters Kluwer Blue Chip Economic Indicators. That's down from previous forecasts but still a historically high risk.)

Stocks closed higher on Monday, marking another record-breaking session.

The Dow added 0.36%, finishing above the 38,000 level for the first time ever. The S&P 500 added 0.22%, also recording a fresh all-time high.

The Nasdaq Composite also ended the session higher with a 0.32% advance.

 Read more

Sarah H

Also on site :

• Loomis Annual and Sustainability Report 2024
• Hooters files for bankruptcy, but some restaurants to remain operating
• Russia Halts Large Chunk of Kazakhstan’s Oil Export Capacity