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INSTANT VIEW 5-Record S&P 500 close classifies 15-month rally as a bull market
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Instant View- S&P 500 trades at highest level ever, eclipses Jan 2022 intraday record
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The S&P 500 posted a record high close on Friday for the first time in two years, fueled by a rally in chipmakers and other heavyweight technology stocks on optimism around artificial intelligence. The milestone confirmed that the benchmark index has been in a bull market since it closed at its low on Oct. 12, 2022, according to one measure, which also puts that date as the end of a bear market. According to preliminary data, the S&P 500 gained 58.02 points, or 1.21%, to end the day at 4,838.96
U.S. consumer prices increased more than expected in December as rents maintained their upward trend, which could delay a much anticipated interest rate cut in March from the Federal Reserve..
Healthy US December payrolls gain complicates Fed pivot timing
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