Stock market hits all-time high for the first time since January

This
bull market in stocks is the longest ever.
Scott Olson/Getty

• The S&P
  500 rose to a new high on Tuesday for the first time since
  January 26. 
• On Wednesday, this bull market will become the longest
  ever. 
• Strong earnings growth continues to power the stock
  market in the face of trade disputes, higher interest rates,
  and other things that have caused volatility this
  year. 

US stocks on Tuesday rose to record highs for the first time
since January 26.

Led by tech and utilities companies, the benchmark S&P 500
index surpassed its previous
intra-day record of 2,872.87. 

The rally to new highs almost coincided with an even bigger
milestone for stocks: After the market closes on Wednesday, this
bull market will officially become the longest in history, as
measured by its ascent from the low it set during the recession
in 2009. 

Stocks rebounded after a correction in February, a 10% drop from
its previous high that was only the fourth of this bull market.
The plunge took the
Dow Jones industrial average down by more than 1,000 points,
the most ever, and
wiped out investment products that had profited from the
low volatility that prevailed in markets for most of last
year. 

US stocks have been supported this year by strong earnings
growth, even in the face of trade disputes, turmoil in emerging
markets, higher interest rates, and other factors that created
volatility at various times during the year. 

“This 
bull
 
market
 has
been breathtaking, with stocks having risen over 300% since the
start,” said Kristina Hooper, the chief global market strategist
at Invesco.

“I agree that valuations in general have become stretched;
however, corporate earnings have been strong, and I believe US
stocks are likely to continue to outperform in the shorter term
given the strength of the US economy and the perceived safety of
US stocks in the midst of trade wars.”

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