The S&P 500 index has produced 50 record closing highs so far this year, amid growing questions about how much farther stocks have to rise in the rebound phase from the COVID-19 pandemic before buckling.
Firstly, it’s worth noting that registering 50 or more record highs for the S&P 500 SPX, +0.16% is a relatively rare occurrence. It has happened only seven times so far, including Tuesday’s, according to Dow Jones Market Data. So far, the S&P 500 is on pace with a year-to-date gain of nearly 20%, as of late-morning Wednesday. The Dow Jones Industrial Average DJIA, +0.20%, meanwhile, was looking at a return of 15.6% so far in 2021, while the Nasdaq Composite Index COMP, +0.07% nearly 17%.
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