HomeFinancial MarketsU.S. Stocks Maintain Seventh Straight Winning Streak

U.S. Stocks Maintain Seventh Straight Winning Streak

Stocks on the New York Stock Exchange managed a seventh consecutive weekly win, their longest streak in six years as investor confidence continues to rise amid hopes for lower interest rates from the Federal Reserve next year.

The benchmark S&P 500 closed out the week less than 0.1% lower than the previous session at 4,719.19 points. Still, this was enough to secure a weekly gain of 114.82 points, or 2.5%. The tech-heavy Nasdaq Composite advanced 0.4% to 14,813.92, securing a 12.5% rise this week. The Dow Jones Industrial Average added 0.2% for the day, enough for a 2.9% weekly rise to 1,057.29 points.

All three major U.S. stock indexes have achieved significant gains for the year to date, with the Nasdaq Composite leading the charge, surging 41.5%. The S&P 500 has jumped 22.9% since the start of the year while the Dow Jones Industrial Average is up 12.5% since the start of 2023.

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