Deutsche Bank analysts point out that the S&P 500 index has just recorded its ninth consecutive daily gain, reaching fresh record highs, even with rising oil prices. The index is close to equaling or exceeding historical streaks on a daily, weekly and monthly basis. They also note that previous episodes of equally powerful performance have not always been sustainable.
The index is approaching a historic winning streak
“Despite rising oil prices, the S&P 500 Index (+0.13%) posted a nearly ninth consecutive gain yesterday, again setting a new record.”
“By comparison, we are entering historic territory as this is the longest stretch in the past year and today’s 10th gain would be the longest daily gain since 1995.”
“Furthermore, the index is on the verge of several record highs as it is currently on track for its 10th consecutive weekly gain, which would be its longest stretch since 1985 if it achieves it.”
“Also on a monthly basis, as Henry noted yesterday, only 5 times since World War II has the rate increased by more than +16% in two calendar months, as it did in April and May.”
“So we’ve had some great results recently, but in the past those streaks haven’t always been sustainable.”
(This article was created with the support of an artificial intelligence tool and has been reviewed by an editor.)
