The S & P 500 is on track to nab its longest winning streak of 2024. Historically speaking, that has recently been a good omen for how the rest of the year will shake out. The broad index saw its eighth straight advance Monday. That's the longest string of gains since November 2023. .SPX mountain 2024-08-08 The S & P 500 over the last 8 trading days Consecutive winning periods of this length are uncommon, but when they occur they are typically associated with strong years.
6% This latest run higher comes amid a choppy summer. The S & P 500 hit all-time highs as recently as July as investors bought into megacap technology and bet on interest rate cuts. But investors were put on edge earlier this month when a global market rout pushed the benchmark index to its biggest one-day loss since 2022 after a sluggish July jobs report and tiny increase in interest rates by the Bank of Japan. To be sure, the size of gains have varied over the course of the current rally.
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