{"id":112613,"title":"Wall Street reaches a record peak as the S&P 500 hits the 5,000 milestone.","publisher":"Share Talk","author":"sharetalk","published":"2024-02-09T07:36:15+00:00","modified":"2024-02-09T07:36:15+00:00","canonical_url":"https://www.share-talk.com/wall-street-reaches-a-record-peak-as-the-sp-500-hits-the-5000-milestone/","markdown_url":"https://www.share-talk.com/wall-street-reaches-a-record-peak-as-the-sp-500-hits-the-5000-milestone.md","json_url":"https://www.share-talk.com/wall-street-reaches-a-record-peak-as-the-sp-500-hits-the-5000-milestone.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["AI","Disney+","Facebook","LSEG data","Meta","Microsoft","S&P 500 Index","USA"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/10/USA-16_10_23.jpg?fit=1200%2C800&quality=89&ssl=1","format":"news","language":"en-GB","content":"The S&P 500 index in the United States reached the landmark figure of 5,000 for the first time this Thursday, propelled by a series of robust earnings reports and growing enthusiasm surrounding artificial intelligence (AI), which has been a significant factor in elevating American stock prices.\n\nOver half of the companies listed on the S&P 500 have disclosed their quarterly earnings, with a notable 81% exceeding market expectations. This performance surpasses the long-term average of 67%, as per LSEG data.\n\nDisney’s shares saw an impressive surge of 11.5% today following the announcement of their earnings outperforming forecasts. The entertainment conglomerate also declared a $3 billion plan for share repurchases and a 50% increase in its dividend.\n\nThe S&P 500 has also been buoyed by the robust performance of tech firms, particularly those focusing on AI, as investors seek out higher returns. Nvidia, a leading provider of AI chips, has experienced a significant increase of 44.6% since the year’s beginning. The company is set to announce its quarterly results on February 21.\n\nMeta, the parent company of Facebook, has seen its shares climb by 35.7% since the year began, with a substantial rise following its February 1 announcement of record revenues, which led to a 200% jump in profits.\n\nMicrosoft, last month, reached a valuation exceeding $3 trillion, becoming only the second company to do so, largely driven by its focus on AI. This led to an investor rally. Just a week ago, Microsoft reported an 18% increase in revenue for the last quarter of 2023, marking its fifth consecutive record quarter, with profits soaring by 33%. Its shares have risen by 11.7% since the start of the year.\n\nSolita Marcelli from UBS Global Wealth Management commented to Bloomberg, “We anticipate a soft landing for the US economy, with the S&P 500 likely to end the year around its current levels. However, recent economic data suggest the possibility of sustained stronger growth, moderate inflation, and quicker monetary easing. In such a scenario, we see the potential for the S&P 500 to reach about 5,300 this year.”\n\nThe S&P 500 index briefly touched 5,000.40 in the last moments of trading but settled at 4997.91, marking a slight increase of 0.06% from the previous day."}