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The S&P 500 and Dow Set New Record Highs

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Via: jbb • last year • 6 comments

By: WSJ

The S&P 500 and Dow Set New Record Highs

The S&P 500 finished Friday at a record, the benchmark index rising 1.2% to close at 4839.81 as stocks stormed upward in the last session of the week.The record marked the index's first high since Jan. 3, 2022, when it finished at 4796.56. The move broke a streak of 512 trading days without a fres

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The Dow also hits a record; All three indexes logged weekly gains

Last Updated:

Jan. 19, 2024 at 6:28 PM EST

The S&P 500 and Dow Set New Record Highs

By David Marino-Nachison, Editor

The S&P 500 finished Friday at a record, the benchmark index rising 1.2% to close at 4839.81 as stocks stormed upward in the last session of the week.

The record marked the index's first high since Jan. 3, 2022, when it finished at 4796.56. The move broke a streak of 512 trading days without a fresh record, according to Dow Jones Market Data, its longest since a 1,375-session run that ended in March 2013. The S&P 500 also broke its Jan. 4, 2022, intraday record, 4818.62.

Friday also brought a second record close for the Dow Jones Industrial Average this year, with the blue-chip index finishing up 1.1% at 37863.80.

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Professor Principal

1 seeder JBB last year

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Professor Principal

2 seeder JBB last year

A soaring stock market is wind under Joe's wings!

Professor Quiet

3 Ronin2 last year

Yet Brandon is still considered a loser on the economy; and pretty much everything else.

Seems that only the 1% are getting richer under Brandon. Everyone else knows the reality of the situation.

Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans.
The National Assn. of Realtors said Friday that existing U.S. home sale s totaled 4.09 million last year, an 18.7% decline from 2022. That is the weakest year for home sales since 1995 and the biggest annual decline since 2007, the start of the housing slump of the late 2000s.

The median national home price for all of last year edged up just under 1% to a record high $389,800, the group said.

In California, home sales fell 24.8% in 2023 from the previous year, the biggest drop since the 2007 housing slump, according to the California Assn. of Realtors. The state’s median home price — the point at which half the homes sold for more and half sold for less — reached $819,740 in December, up 6.4% from a year earlier.

Last year’s home sales tumble echoes the nearly 18% annual decline in 2022, when mortgage rates began rising, eventually more than doubling by the end of the year. That trend continued in 2023, driving the average rate on a 30-year mortgage by late October to 7.79%, the highest level since late 2000.
The sharply higher home loan borrowing costs limited home hunters’ buying power on top of years of soaring prices. A dearth of homes for sale also kept many would-be homebuyers and sellers on the sidelines.