Mar 22, 2024 - Economy

The S&P 500 has soared 27% in the last five months

Data: YCharts; Chart: Axios Visuals
Data: YCharts; Chart: Axios Visuals

The S&P 500 hit yet another record high on Thursday, closing at 5,241. That's a stunning rise of 27% in less than five months.

The big picture: The rise in the stock market coincides with a significant rise in expectations for GDP growth in 2024.

  • Back in August, analysts expected just 0.6% GDP growth this year. Now, they're forecasting 2% growth.
  • Federal Reserve officials are slightly more bullish still, with a 2.1% median forecast.
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