{"id":10799,"date":"2023-11-07T21:33:10","date_gmt":"2023-11-07T21:33:10","guid":{"rendered":"https:\/\/infundpros.com\/markets\/sp-500-notches-best-winning-streak-in-2-years\/"},"modified":"2023-11-07T21:33:11","modified_gmt":"2023-11-07T21:33:11","slug":"sp-500-notches-best-winning-streak-in-2-years","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10799","title":{"rendered":"S&#038;P 500 Notches Best Winning Streak In 2 Years"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>The stock market rally marched ahead Tuesday, as major stock indexes registered another new 2023 milestone as bullish sentiments again flooded Wall Street.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>The S&amp;P 500 (up 0.3%) and Dow Jones Industrial Average (up 0.2% Tuesday) posted their seventh consecutive day of gains, while the tech-heavy Nasdaq (up 0.9%) rose for the eighth straight session.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>It\u2019s the S&amp;P\u2019s and Nasdaq\u2019s longest respective winning streaks since November 202 and the Dow\u2019s longest since July.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Several notable stocks closed at their highest share price in more than a year Tuesday, including Walmart, which hit an all-time high of $166, and DraftKings and Uber, which hit their highest respective levels since 2021.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The lengthy stretch in the green reverses much of the losses of a three-month long selloff spanning August to October that sent the S&amp;P into a 10% correction, as optimism about the direction of the Federal Reserve\u2019s monetary policy and a strong stretch of corporate earnings positively impacted sentiments.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Crucial Quote<\/h2>\n<p>\u201cWhen narratives shift, the market response is often fast and ferocious,\u201d explained Jason Draho, UBS Global Wealth Management\u2019s head of Americas asset allocation, in a Monday note to clients.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Tangent<\/h2>\n<p>Bitcoin is also enjoying a bounce amid the new wave of investor optimism. The world\u2019s largest digital asset is up about 25% over the last three weeks, trading above $35,000 for the first time since last May.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>All three major U.S. stock indexes recorded their best calendar week of 2023 last week. The broad rally, which saw about 95% of S&amp;P constituents gain, came after several developments suggested the end of the Fed\u2019s interest-rate hiking policy is near, including the central bank chief\u2019s Jerome Powell\u2019s rare assertion Wednesday that he is seeing significant \u201cprogress\u201d in the Fed\u2019s war against inflation and a jobs report Friday which revealed the labor market is cooling enough to slow the economy while keeping unemployment within the typical historic range. Lower interest rates would likely be a boon for stocks as it would ease the drag in profits associated with higher borrowing costs. Yields for 10-year U.S. government bonds, which historically move in the opposite direction of stocks, have fallen from near 5% to below 4.6% over the past two weeks.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/11\/07\/walmart-uber-stocks-hit-multiyear-highs-as-sp-500-tallies-longest-winning-streak-since-2021\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline The stock market rally marched ahead Tuesday, as major stock indexes registered another new 2023 milestone as bullish sentiments again flooded&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10800,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-10799","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P 500 Notches Best Winning Streak In 2 Years | inFundPros<\/title>\n<meta name=\"description\" content=\"Topline The stock market rally marched ahead Tuesday, as major stock indexes registered another new 2023 milestone as bullish sentiments again flooded\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=10799\" \/>\n<meta property=\"og:locale\" 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