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S&P 500 Hits All-Time High as Bull Market Extends

The benchmark index closes at a record 5,123, driven by tech leadership and improved economic outlook. Analysts raise year-end targets.

Wall Street Journal••3 min read
Market Impact
S&P 500NASDAQDow Jones

The S&P 500 closed at an all-time high of 5,123.45, surpassing the previous record set earlier this year. The milestone marks a 28% gain from the October 2023 lows and confirms the strength of the current bull market.

Technology stocks led the advance, with the sector up 2.3% on the day. Mega-cap names including Apple, Microsoft, and Nvidia contributed significantly to the index-level gains.

Wall Street analysts are rushing to revise their year-end targets higher, with several now projecting 5,500-5,800 by year end. The rally has been supported by falling inflation, resilient corporate earnings, and expectations of Fed rate cuts.

Key Takeaways

  • 1

    S&P 500 closes at record 5,123.45

  • 2

    Tech sector leads with 2.3% gain

  • 3

    28% rally from October 2023 lows

  • 4

    Analysts raising year-end targets to 5,500+

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