U.S. markets have been on a streak and given investors a cause for celebration with the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all finishing up for the fifth consecutive quarter.
|I:DJI||DOW JONES AVERAGES||33956.28||-195.73||-0.57%|
|I:COMP||NASDAQ COMPOSITE INDEX||12947.946761||-154.60||-1.18%|
The Dow Jones Market Data Group released its stats for the end of the first half Wednesday, reporting that the Dow finished up 12585.35 points, or 57.42%, over the last five quarters, marking the largest five-quarter percentage gain since 1976. That's its longest winning stretch since Q4 of 2017, when the market climbed for nine quarters straight.
Meanwhile, the S&P saw its greatest five-quarter percentage gain since 1936, climbing 1712.92 points, or 66.27%, over the past five quarters. The news comes as the index hit an all-time high Wednesday for the fifth day in a row.
Over the past five quarters, the Nasdaq has seen a whopping 88.36% gain, up 6803.85 points and closing out June up 5.49% – its highest monthly percentage gain since December.
The extended stretch of gains continues despite concerns over inflation amid trillions in added government spending with more on the way, and some jitters regarding whether the Federal Reserve will raise interest rates sooner rather than later as the economy recovers from the coronavirus pandemic.