The S&P 500 is near its first record high in nearly two years. The benchmark index opened higher on Thursday after ending Wednesday lower, just 0.3% away from its closing record set in January 2022. The index has come a long way: It has climbed 34% from last year's low, helped by a big rally this quarter. The greenback is on track to decline for a sixth straight session on Thursday, sending the WSJ dollar index to its weakest level since July. This would be the longest such streak for the S&P 500 since a nine-week streak that ended on January 3, 2004.a santa rally This seems to be the case in the cards too.

Source: Wall Street Journal December 28, 2023 16:40 UTC