The Price of S&P 500 Sets Historical Record By Exceeding 5,000


As the graph shows, yesterday, the price of the S&P 500 index exceeded the psychological level of 5,000 for the first time in history. Bullish sentiment in the US stock market is supported by 2 drivers.

Expectation of lower interest rates. So, yesterday, the head of the Minneapolis Fed, Neel Kashkari, noted that at the moment he expects two or three rate cuts this year.

Strong company reporting for the 4th quarter of 2023. At the end of last week, 46% of S&P 500 companies had reported. Of these companies, 72% reported earnings per share that were above expectations. The successes of technology giants attract particular attention.

As MarketWatch notes, if stocks act strongly in January, there is a significant chance that stocks will continue to rise. This year, the S&P 500 is up 2.5% since the start of January. And according to statistics since 1953, if the S&P 500 grew by 2% or more in January, it gained an average of 13.5% by the end of the year. The index showed positive dynamics in 84% of cases.

The S&P 500 chart today shows that the price is moving within the ascending channel (shown in blue). The slow and steady nature of the growth confirms the strength of bullish sentiment. However:

→ the RSI indicator indicates divergence;
→ the price is near the upper border of the channel.

Therefore, a correction is not excluded - then the psychological level of 5,000 points may become resistance. If a correction occurs, it is possible that the bulls will try to resume the rally from the support of 4,850, in the area of ​​which the lower border of the mentioned ascending channel passes.

Trade global index CFDs with zero commission and tight spreads. Open your FXOpen account now or learn more about trading index CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Indices

Nasdaq-100 Price Hits All-time High after 4 Straight Months of Gains European Stock Markets on All-Time Roll Despite Economic Bleakness Nvidia's Successes Helps S&P 500 Price Reach Its All-time High S&P 500 Inches Down After Long Rally as FOMC Minutes Approach NASDAQ Price Declining Ahead of NVDA Report

Latest articles

Financial Market News

Weekly Market Wrap With Gary Thomson: CAC 40, AUD, OIL, AMAZON

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of  FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. European Stock Markets on


Price of Gold Briefly Exceeded $2,050 per Ounce

In addition to new records in the stock markets, the reaction to yesterday's news about inflation in the US was also a decrease in government bond yields and a rapid rise in the price of gold — the cost of XAU/


Nasdaq-100 Price Hits All-time High after 4 Straight Months of Gains

The Nasdaq-100 index is holding above 18,000 today following yesterday's bullish momentum, fueled by inflation news. The PCE consumer spending index amounted to 0.4% on a monthly basis, which was in line with analysts' expectations. A year ago,

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.