S&P 500 closes above 5,000 level for the first time

Wall Street marked another historic finish on Friday as the S&P 500 index concluded the day surpassing the 5,000-point milestone for the first time in history. Securing its fifth consecutive winning week.

This noteworthy session unfolded in response to investors' positive reactions to a revised report on December's inflation data, revealing figures even lower than initially disclosed. Additionally, the market received a boost from well-received quarterly earnings, particularly driven by substantial contributions from prominent tech companies.

It took nearly 41 years for the S&P 500 to achieve its initial significant milestone of 1,000, which it accomplished on February 2, 1998, as Howard Silverblatt, senior index analyst at S&P Dow Jones Indices noted.

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