The S&P 500 Just Did Something It Has Never Done Before. Wall Street Says the Stock Market Will Move Higher This Year.
The S&P 500 (SNPINDEX: ^GSPC) is designed to track the entire U.S. stock market. Specifically, the index measures the performance of 500 large U.S. companies that together account for a substantial portion of domestic equities as measured by market capitalization.
The S&P 500 soared 24% last year as recession fears diminished, and it has advanced another 5% so far this year. Those gains carried the index above 5,000 points (the S&P 500 is measured in points, not dollars) for the first time last week. Very few investors would have predicted that rebound when the S&P 500 cratered at 3,577 in October 2022. But signs of economic resilience and excitement about artificial intelligence have been powerful tailwinds.
Source Fool.com