The S&P 500 turned wavered in early trading Thursday, putting a historic winning streak in jeopardy. The broad stock-market gauge is coming off an eighth consecutive session of wins, the longest streak since 2021. A ninth day would mark the longest string of gains since November 2004, according to Dow Jones Market Data. U.S. stocks have rapidly bounced back from their autumn lows and the S&P 500 is on track to notch gains for a second consecutive week.
The Federal Reserve left rates steady at its last meeting and many are confident the central bank is done raising interest rates, for now at least. The yield on the 10-year Treasury has eased back down, after breaching 5% and rattling stocks. Meanwhile, earnings season so far has impressed investors. The members of the S&P 500 are on pace to collectively report the first rise in earnings in a year. Since January 1928, the S&P 500 has logged winning streaks of nine days or more 32 times.
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