The threshold was reached on the back ofand the expectation that the Federal Reserve is about to pause its aggressive cycle of hiking interest rates.
Softening inflation is also helping the outlook, as a continued drop would give the Fed some breathing room to stop hiking interest rates and potentially pause at its policy meeting next week. "The only times it didn't work? Twice during the tech bubble implosion and once during the Great Financial Crisis. In other words, some of the truly worst times to be invested in stocks," Detrick said earlier this week. with the Cboe Volatility Index, known as the VIX, essentially telegraphing that the high-volatility regime of 2022 has transitioned to a low-volatility regime more in line with prior bull markets seen from 2014-2018.