S&P 500 closes above key 5,000 level for first time

The S&P 500 achieved a major milestone by closing above the 5,000 level for the first time. This landmark moment reflects bullish sentiment on Wall Street and investor optimism regarding progress on inflation. The index briefly surpassed 5,000 in trading on Thursday. The S&P 500 took almost 41 years to reach its first major milestone of 1,000 and reached 4,000 in April 2021. The recent surge to new highs has been led by a few dominant stocks, including Nvidia, Microsoft, Meta Platforms, Amazon, Apple, Alphabet, and Tesla.