This is the greatest 50-day rally in the history of the S&P 500
The S&P 500 has returned 37.7% over the last 50 trading days, making it the benchmark index’s largest 50-day rally in history, according to LPL Financial.
And if history is any indication, there could be more gains ahead.
Looking at the other largest 50-day rallies, the firm found that stocks were higher 100% of the time six and 12 months later. The average 6-month return was 10.2%, while the average 1-year return was 17.3%.
The firm crunched the data going back to 1957, which is when the index moved to a 500-stock model.
The S&P 500 has steadily climbed higher after dropping to an intraday low of 2,191.86 on March 23 — putting to an end the longest bull market in history — as Covid-19 battered global markets. The benchmark index is now 41.7% above that low, and less than 9% from its February all-time high level.
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[Source: CNBC News]