Stocks Make History With S&P 500 Scoring Seven Records in a Row
- Longest stretch of all-time highs since the dot-com era
- History shows continuous breakouts tend to bode well for bulls
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In a year when the S&P 500 hit all-time highs every four days, Friday’s elevation looked like nothing special. But here’s the twist: It marked a seventh straight session of records, a feat not seen since 1997.
The benchmark index extended its longest rally since last August as data showed that U.S. job growth surged the most in 10 months, while the unemployment rate edged up to 5.9%. The report helped bolster views that the Federal Reserve won’t rush to tighten monetary policy any time soon and risk stifling the economic recovery from the pandemic.