Read More , it has been on the rise since the summer of 2020, after the election of Donald Trump.
The index’s value increased by 1.5% that year, and it’s up 6.9% since January 2021.
The rise has been driven by a slew of economic trends, including a surge in the number of Americans entering the labor force and the hiring of workers to fill jobs.
But a broader measure of the stock market’s health has been more elusive, with economists estimating that the index’s long-term performance is largely a function of expectations about future economic activity.
The U.K. and other developed nations have used a broader gauge called “economic growth” to gauge the performance of the broader market, while many developed countries have used the more subjective “wealth effect” to measure the strength of their economies.
The U.N. has been tracking the stock index since 1973, when it first began tracking it.
Since then, it has recorded six decades of annual growth for the S&P 500, with a peak in 2020 of almost 5% annually.
The Dow Jones Industrial Average rose more than 1,000 points in 2017.
The Dow’s rise is the largest for any single day in nearly a century.
It surpassed the 3,000-point mark on Nov. 10, 1973, the year President John F. Kennedy was inaugurated.
That’s the year the Dow surpassed the peak it reached in the 1940s, when the Dow peaked at 6,942, a year after the atomic bomb was dropped on Hiroshima.