The benchmark s close confirmed that the S&P 500 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.
"It really is an encouraging day in terms of the action, and 4,800 certainly has been a key level which has been difficult to surmount. So if we continue to move in this direction, that s going to be a very positive sentiment sign," said Lisa Erickson, head of public markets at U.S. Bank Wealth Management in Minneapolis.
NEW YORK, Jan. 19 (Xinhua) U.S. stocks ended higher on Friday, pushing the S&P 500 and the Dow to new heights, fueled by surging tech stocks and bets that the Federal Reserve will cut interest rates this year.
US stock market: The S&P 500 closed at a record high on Friday, driven by a surge in tech stocks, particularly those of chip-making companies that are buoyed by optimism surrounding artificial intelligence (AI) advancements. The index climbed 1.23 per cent to close at 4,839.81 points. The tech-heavy Nasdaq index advanced 1.70 per cent to 15,310.97 points, and the Dow Jones Industrial Average increased by 1.05 per cent to 37,863.80 points., Markets News, Times Now