:max_bytes(150000):strip_icc()/GettyImages-2183501031-39a000d5f51b471cb4bc2071b596ea4f.jpg "S&P 500 Surpasses 6K for First Time After Climbing 1K Points in Record Time")
:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2183501031-39a000d5f51b471cb4bc2071b596ea4f.jpg)
The S&P 500 on Friday crossed 6,000 points for the first time as stocks continued to rally after Donald Trump’s victory in Tuesday’s presidential election.
Even before the election, 2024 had been a banner year for stocks. The S&P 500 was up 21% year-to-date when markets closed on Tuesday. But former President Donald Trump’s victory has turbocharged the bull market. The S&P has surged nearly 5% this week, boosted by expectations for an exceedingly business-friendly White House and Congress.
It took the S&P 500 less than a year (191 trading days) to climb from 5,000 to 6,000 points, its fastest-ever ascent between 1,000-point milestones.
The index crossed 5,000 for the first time on February 8 of this year, 719 trading days after hitting 4,000 on April 1, 2021. The index’s ascent from 3,000 to 4,000 was its second-fastest; it took just 437 trading days (July 10, 2019, to April 1, 2021) to add those thousand points despite March 2020’s sharp Covid sell-off.