S&P 500 ($SPY, $SPX) and Nasdaq ($QQQ) Reach New Record Closing Highs

The S&P 500 ($SPY, $SPX) and Nasdaq ($QQQ) have reached new all-time highs, marking significant milestones for both indices. The S&P 500 hit its 23rd all-time high this year and has risen 29% since October 2023, adding $10 trillion in market cap. The index is up 11.5% in 2024 despite four interest rate hikes. The Nasdaq also achieved a new record closing high, driven by strong performances from major tech stocks like Microsoft. The market's positive momentum comes ahead of the latest US Consumer Price Index (CPI) report.