6 Mins Ago
Record watch
Investors are on record watch as the S&P 500, with its Friday close of 4,769.83, is now less than 1% away from a new high.
A close above 4796.56, the record the equity benchmark reached in January 2022, would constitute a new all-time high. The S&P 500’s current intraday record is 4818.62 also from January 2022.
7 Mins Ago
More stock gains in 2024, but much lower return, history says
A banner year with the S&P 500 gaining more than 20% could suggest more good news in the following year if history is any guide, but don’t expect a bigger year than 2023, according to Ryan Detrick, Carson Group’s chief market strategist.
Dating back to 1950, there have been 21 times that the S&P 500 logged a yearly gain at least 20%. What happens the next year is that the equity benchmark has been in the green 80 of the time with an average return of 10%, the strategist said.
Only once in history — in 1997 — did stocks gain more the next year, Detrick said.
— Yun Li
