--- title: Basically Every Stock Market Index Is at — or Near — an All-Time High Right Now description: The major stock market indexes, including the Dow and the S&P 500, are all at or near record highs as inflation continues to cool. authors: - name: Jordan Chussler role: Editor, Investing and Banking url: https://money.com/author/jordan-chussler/ bio: Jordan is an investment editor and CPFC who specializes in traditional equities, gold and other precious metals, retirement savings and income investing. He combines his personal and professional interests in finance and education to help readers increase their financial literacy and make better investment choices. education: Lynn University certifications: Certified Personal Finance Counselor at_money_since: 2023 articles: 132 covers: - Investing - Banking - Credit - Credit Cards - Economy and Politics - Housing - Identity Theft - Insurance - Loans - Mortgages - Personal Finance - Professional Services - Retirement also_seen_in: - Weiss Ratings - 24/7 Wall Street - Better Investing - Yahoo Finance - Nasdaq - Investing.com - Marketbeat - MSN Money social: - https://www.linkedin.com/in/jordan-chussler-b3597811/ editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2024-06-17T19:44:37.000Z' modified: '2024-06-18T18:24:13.000Z' section: Investing tags: - News word_count: 635 canonical: https://money.com/stock-market-indexes-record-highs/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Clouds forming an arrow and dollar signs](https://img.money.com/2024/06/News-Stock-Index-High.jpg) With inflation continuing to subside, nearly every major [stock market index](https://money.com/what-is-the-sp-500-index/) is at or near an all-time high. Behind the current rally is May's inflation data, which surprised economists upon its release last week. The [Consumer Price Index](https://money.com/stocks-jump-inflation-fed-rate-cuts/) (CPI), which measures the average cost of consumer goods and services purchased by households, remained flat despite expectations of a 0.1% increase. Meanwhile, the Producer Price Index (PPI), a measure of inflation at the wholesale level, unexpectedly fell 0.2% despite a projected 0.1% increase. In turn, Wall Street is interpreting the indicators as ongoing fuel for 2024's bull market. ## Want to grow as an investor, no matter your level? ### SoFi® is the investing platform that helps people become better investors. Build your portfolio alongside over a million other community members. [Start Investing](https://money.com/pr/hb325a3303ea?ap_referrer=%2Fstock-market-indexes-record-highs%2F) INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA / SIPC. The S&P 500 — commonly used as a benchmark for the broad stock market — set its 30th all-time-high closing price of 2024 on Tuesday, June 18, after setting its 29th last week. The index has gained 15.57% so far this year, and with last week's CPI and PPI prints showing inflation cooling further, revised end-of-year targets for the S&P 500 are looking stronger. According to Julian Emanuel, a strategist at Evercore ISI, that target could be as high as 6,000. Emanuel increased his year-end target for the S&P 500 from 4,750 to 6,000, making him one of the most bullish analysts on Wall Street. Given that the S&P 500 is trading at 5,481, his projection marks a 9.47% gain for the index in the second half of the year. But it isn't just the [S&P 500](https://money.com/how-to-invest-in-sp500/) that's continuing to set records in 2024: - The Nasdaq closed with four consecutive record highs last week and is currently up 21.3% year-to-date. - The US 100, which represents the performance of 103 equity securities issued by the leading 100 non-financial companies listed on the Nasdaq, set its all-time high Monday morning, having gained 5.28% in the past four weeks. - And last month, the [Dow Jones Industrial Average](https://money.com/dow-40k-stock-market/) breached 40,000 points for the first time ever. The only index seemingly not joining the party is the Russell 2000, which tracks small-cap companies and is up 0.44% so far this year. However, over the past two months, the Russell has mustered a 4% gain, leaving it 20.5% off its all-time high. ## Why stock market indexes are breaking records Much of the current rally is being credited to the increased likelihood of a looming [interest rate cut](https://money.com/when-will-fed-cut-interest-rates/) by the Federal Reserve. The Fed's counter-inflation policies have resulted in the CPI coming down from a 41-year high of 9.1% in June 2022 to its current 3.3%. The [CME's FedWatch Tool](https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html) now pins the likelihood of a rate cut at 62.3% during the Federal Open Market Committee's September meeting. But inflation reduction alone isn't driving the market. Along with other healthy macroeconomic indicators, stocks are pushing the major indexes higher. Unemployment, for example, has now remained below 4% for the longest period since 1967, and the U.S. has seen GDP expansion in 13 of the last 15 quarters. Between a robust labor market and strong economic output, investor confidence has remained strong all year. The American Association of Individual Investors' [investor sentiment survey](https://www.aaii.com/sentimentsurvey) has shown bullishness outweighing bearishness every week thus far in 2024. Swelling capital expenditures on AI infrastructure coupled with strong corporate earnings are also contributing to ongoing gains. Second-quarter earnings season wraps up this week, and by and large, it's been a successful one for corporate America, with companies like Broadcom and Nvidia soundly beating estimates by posting revenues of $8.73 billion and $13.51 billion, respectively. Strong earnings could lead to yet *another* high. According to financial data company FactSet, Q2 estimated earnings growth for the S&P 500 is 9.0%, which would mark the highest year-over-year earnings growth rate since Q1 2022. ## Time in the market beats timing the market. ### The brokerage you choose matters. Try SoFi®, the investing platform helping people become better investors. See what makes us different. [Start Investing](https://money.com/pr/fc3c719c4529?ap_referrer=%2Fstock-market-indexes-record-highs%2F) ![](https://s3.consumersadvocate.org/prd/image/image/20107/medium_fab74697-be3e-49a4-8040-ea434cb0e5c3.png) Become a better investor with SoFi® [Start Investing](https://money.com/pr/v42ab7f4acf9?ap_referrer=%2Fstock-market-indexes-record-highs%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/stock-market-indexes-record-highs/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "Stock Market", "item": "https://money.com/stock-market/" }, { "@type": "ListItem", "position": 4, "name": "Basically Every Stock Market Index Is at — or Near — an All-Time High Right Now" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/stock-market-indexes-record-highs/#webpage", "url": "https://money.com/stock-market-indexes-record-highs/", "name": "Basically Every Stock Market Index Is at — or Near — an All-Time High Right Now", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2024-06-17T19:44:37.000Z", "mainEntity": { "@id": "https://money.com/stock-market-indexes-record-highs/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/stock-market-indexes-record-highs/#breadcrumb" }, "dateModified": "2024-06-18T18:24:13.000Z" }, { "@type": "NewsArticle", "headline": "Basically Every Stock Market Index Is at — or Near — an All-Time High Right Now", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2024/06/News-Stock-Index-High.jpg", "width": 2880, "height": 1920, "caption": "News-Stock-Index-High" } ], "author": [ { "@type": "Person", "name": "Jordan Chussler", "url": "https://money.com/author/jordan-chussler/", "@id": "https://money.com/author/jordan-chussler/#author", "description": "Jordan is an investment editor and CPFC who specializes in traditional equities, gold and other precious metals, retirement savings and income investing. 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