The S&P 500 Index is heading toward a bull-market milestone after stocks rallied back from last year’s lows on optimism the Federal Reserve is nearing the finish line of its interest-rate hikes.
rose 0.3 per cent on Monday, widening its advance from its Oct. 12 trough to 20 per cent. If it closes trading here, that would push the index past the threshold of what’s considered a bull market.
The gains have been fuelled by signs of continued economic strength, growing wagers that interest rates are nearing their peak, and enthusiasm about artificial intelligence breakthroughs that have pushed up some of the biggest tech companies — already sending the Nasdaq 100 Index well into bull territory. The Dow Jones Industrial Average has yet to cross that threshold.
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