On Friday, the predominant gauge of the U.S. stock market achieved a historic milestone by closing above 5,000 for the first time.

This significant psychological benchmark has been a focal point for investors amidst a flurry of fourth-quarter earnings reports.

The latest record closing high, approximately at 5,026, reflects the conclusion of a Q4 reporting season characterized by mixed but generally positive results.

This achievement marks another progression in the ongoing bullish trend that has propelled the market into uncharted territory.

A contributing factor to this upward momentum is the anticipation of potentially lower interest rates in the future, Axios reported.

The inception of this new bull market occurred on October 12, 2022, marking the end of the bear market induced by the Federal Reserve’s series of rate hikes in the preceding years.

Since its inception, the S&P 500 has surged by over 40%, demonstrating the resilience and vigor of the current bull market.

Notably, the index has already recorded a gain of more than 5% in the early months of 2024.

Written by B.C. Begley