The stock market passed another landmark today as the S&P 500 recorded its longest rally ever, capping a near decade-long Wall Street boom that has gathered pace over the course of this year.
It started in the first year of the Obama administration, and has continued on into the Trump era.
The S&P 500 share index, tracking the 500 biggest public companies in America, closed trading today having gone 3,453 days – nearly nine and a half years – without a fall of 20% or more, which is the measure used by analysts for handing it the status as the longest bull market in American history.
Having started in March 2009, following the financial crisis, the longest market rally comes as the global economy continues its recovery from the depths of the last recession.
Although there have been numerous wobbles in the past 10 years, including a sharp correction earlier this year, when S&P fell 10% over two weeks after its January high, the milestone comes with help from corporate tax cuts and the rise of internet companies such as Apple, Amazon and Google’s owner, Alphabet.