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U.S. stocks have achieved a rare milestone reminiscent of the era when President Richard Nixon occupied the White House. On Friday, the S&P 500 (SPX) clinched its 14th week of gains out of 15, a feat last seen on March 10, 1972, according to Dow Jones Market Data. This accomplishment is only the 13th since the index’s inception in 1957. But the significance of the index’s climb over this period doesn’t require a distant glance into history. With a 22.1% surge over the past 15 weeks as of Friday’s close, it marks the most substantial gain in such a timeframe since the period ending August 28, 2020, based on Dow Jones data. Friday also saw the index closing above 5,000 for the first time, marking its 10th record close of the year. Notably, the S&P 500 isn’t alone in its historic winning streak. The Nasdaq Composite (COMP) also joined the party, rising for the 14th week out of 15. For the Nasdaq, the last time it accomplished such a streak was during a 15-week period ending on August 8, 1997. As for the Dow Jones Industrial Average (DJIA), it barely managed to eke out a gain for the week on Friday, marking the first such instance since May 12, 1995. These types of winning streaks for the DJIA have occurred only 14 times since its inception in the late 19th century. For the Nasdaq, it was only the sixth time since its creation that it achieved such a milestone, with one instance being a 15-week winning streak ending on March 10, 1972. The rally in U.S. stocks has been robust since their recent near-term bottom in late October, when the S&P 500 hit its weakest level in five months. The primary driver behind this market surge has been the Federal Reserve’s pivot away from raising interest rates, leaning instead toward maintaining them or possibly cutting them later in the year, according to Chris Zaccarelli, chief investment officer at Independent Advisors Alliance. Zaccarelli also pointed to the surprising resilience of the U.S. economy as another factor bolstering stocks over the past year. U.S. stocks closed mostly higher on Friday, with all three major indexes notching weekly gains, even as the Dow lagged. The S&P 500 closed 0.6% higher at 5,026.61, while the Nasdaq Composite gained 1.3% to 15,990.66, and the Dow Jones Industrial Average finished down 0.1% at 38,671.69. The Russell 2000 also saw gains, closing up 1.5% at 2,009.99.

On Wednesday morning, the stock market in the United States experienced a boost when the latest consumer-price index data showed an increase in inflation in August. This could potentially change the Federal Reserve’s plans for interest rates. How are stock indexes trading On Tuesday, the Dow industrials fell by 18 points, equivalent to a 0.05% decrease, reaching a value of 34,646. Likewise, the S&P 500 decreased by 0.6%, settling at 4,462, while the Nasdaq saw a decline of 1.04%. On Wednesday, the stock market in the United States experienced a rise following the publication of the consumer-price index for August. This index indicated that the annual inflation rate had increased by 3.7% the previous month, slightly surpassing Wall Street’s forecast of 3.6%. The consumer-price index, which tracks the cost of different goods and services, saw a substantial monthly rise of 0.6%, the highest in 14 months. However, even after excluding the prices of energy and food, the core inflation still climbed by a larger margin (0.3%) compared to the expected increase of 0.2%. Nigel Green, a financial advisor at deVere Group, believes that the recent U.S. CPI data will not greatly influence the Federal Reserve’s decision to maintain interest rates at their upcoming meeting. The financial markets have already taken this decision into account. Nevertheless, the rise in inflation gives the U.S. central bank an extra incentive to proceed cautiously in the future. As a result, it is anticipated that the Fed will start preparing the market for a potential rate increase during their November meeting. Based on the information from the CME Fed Watch Tool, traders in the market for fed funds futures have a strong belief that the Federal Reserve will not increase interest rates in their next policy meeting next week, with a 95% probability. Additionally, there is a 37% probability of a 25 basis point increase in rates at the November meeting, which has not changed significantly compared to the previous day. The interest rate on the 10-year Treasury note BX:TMUBMUSD10Y in English language increased by 1 basis point to 4.279%, whereas the interest rate on the 2-year Treasury BX:TMUBMUSD02Y decreased by 3 basis points to 4.999%. Chris Zaccarelli, the chief investment officer at Independent Advisor Alliance, stated that the report released on Wednesday did not meet investors’ expectations, as the core inflation rate only increased by 0.3% monthly. Despite this, Zaccarelli noted that the market can still remain stable within this range. He also mentioned that although inflation is at a level that keeps the Federal Reserve involved, it is not substantial enough to completely change the belief that the Federal Reserve’s actions are nearing completion. These thoughts were conveyed through email comments. Zaccarelli suggests that as long as the economy stays robust and inflation doesn’t resurface as a worry, the stock market has the chance to experience a surge until the conclusion of the year, especially following the traditionally sluggish months of September and October. Investors will closely observe ARM Holding’s expected price for its initial public offering later today, which could potentially assign a value of up to $55 billion to the chip designer. If the IPO of this British company is successful, it might stimulate activity in the IPO market, which often reflects a positive outlook for the stock market as a whole. Among the various economic updates anticipated on Wednesday is the release of the federal budget report for August, which is scheduled to be made public at 2 p.m. Companies in focus