Stocks concluded the day with gains, leading to the S&P 500 entering a bull market on Thursday. This occurred as investors absorbed new economic data in anticipation of the upcoming Federal Reserve meeting and observed changes in leadership at GameStop.
S&P 500 officially enters new bullmarket territory
6/8/2023
The S&P 500 experienced a 0.62% increase, while the Nasdaq Composite surged by 1.02%, and the Dow Jones Industrial Average rose by 0.50% or 168 points. Notably, the S&P 500 has now risen over 20% since reaching its lowest point in October 2022.
On Wednesday, the Nasdaq 100 ended a four-day winning streak, suggesting that the rally driven by artificial intelligence has halted. Throughout the week, the S&P 500 has been striving to attain bull-market status, requiring a closing value above 4,292.44.
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