S&P 500 Enters New Bull Market, Stocks Rise as Tech Lifts Market

Stocks surged on Thursday, June 8, 2023, with the S&P 500 entering a new bull market, as investors remained optimistic about the economy reopening. The index closed at its highest level for the year, following a flat start to trading in the morning. The gains were driven by big tech companies, including Warner Bros. Discovery A, which topped the leaders.

According to Yahoo Finance, the S&P 500 has gained 20% over the past 12 months, marking the fastest bull market for the index since 1959. However, some analysts warn that the market may be overheating and that investors should be cautious.

Despite the concerns, Thursday’s gains were widespread, with all 11 sectors in the S&P 500 rising. The Dow Jones Industrial Average and the Nasdaq Composite also closed higher.

As CNBC reported, futures were flat in early Friday trading, suggesting that the markets may take a breather after their recent rally.

The Wall Street Journal noted that the gains in the stock market come as the economy continues to recover from the pandemic. However, the pace of growth may slow in the coming months as stimulus measures are scaled back.

Investors will be closely watching key economic indicators, including the jobs report due out on Friday, for further signs of the economy’s health.

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