S&P 500: Record streak tests sustainability – Deutsche Bank

Deutsche Bank analysts highlight that the S&P 500 has just managed a ninth consecutive daily gain, taking it to fresh record highs, even with rising Oil prices. The index is close to matching or surpassing historic streaks on daily, weekly and monthly horizons. They also note that past episodes of similarly strong performance have not always been sustainable.

Index nears historic winning run

"Despite the rise in oil, the S&P 500 (+0.13%) just about posted a 9th consecutive advance yesterday, taking the index to a fresh record once again."

"For reference, we’re getting into historic territory, as it’s the longest run in the last year, and a 10th gain today would be the longest daily run since 1995."

"Moreover, the index is on the verge of several records, as it’s currently on track for a 10th consecutive weekly gain, which would be the longest run since 1985 if it manages it."

"On a monthly basis too, Henry pointed out yesterday, that there’s only been 5 times since WWII when the index was up more than +16% in two calendar months, as happened in April and May."

"So there’s been a stellar performance recently, but these runs haven’t always proved sustainable in the past."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)