Stock Market Flashback: S&P 500 Strikes the Bull’s Paw
In the grand arena of U.S. finance, the S&P 500 is the heavyweight champion. On January 24, 2024, it didn’t just win; it went full-on celebratory, cracking a brand‑new record and comfortably striding into the 4900‑point territory.
Why the Surge? A Quick Rundown
- Money‑Munching Retail Sales: On December 17, retail sales slipped up 0.6% – a tidy bump over the 0.4% forecast. Investors cheered, and the market kept climbing.
- Job Board Ones: New unemployment claims dropped to 187,000 from an expected 203,000. That’s a sign the economy’s still keeping the crew busy.
- Fed’s Rate River: Wallstreet’s low‑downers weren’t planning a rate cut till March anymore; the pre‑March cut probability slid from 77% to 54%, courtesy of fresh data hinting the economy is sticking around the horseshoe.
- Congress Does Its Thing: They just green‑lit a bill that keeps the federal government running into March 2024 – a boost for investor confidence.
- Big Companies Living It Up: Netflix blew its shares out of the water by +10% after a blockbuster quarterly report that put it at a two‑year high. Microsoft hit a splash matter‑of‑fact $3 trillion valuation, crowning the world’s biggest market cap king.
Beyond the Numbers: A Tale of Resilience
The narrative? The S&P 500 isn’t just a series of up‑and‑down slides; it’s a story saga of growth, drama, bounce‑backs, and record‑breaking finishes. Every dip is just a prelude to an encore, and the index keeps proving that the U.S. stock market can rise, even after a tumble.
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