,"The S&P 500 posted its best monthly gain in nearly a year, rebounding sharply from a sharp sell-off in the first three weeks of February.","The S&P 500 closed at a record high on Monday, driven by a rally in the technology sector after the U.S. government said it would begin..."
The S&P 500 has been on a steady march higher this year, with the index up 3.6% since the start of 2021. Despite warnings from some Wall Street strategists that a sell-off could be imminent, the S&P 500 has continued to rally and is now poised to extend its advance through April.
The market has been buoyed by a number of positive factors, such as strong earnings reports from tech companies, a continued expansion of the services sector, and comments from Federal Reserve officials that were perceived as dovish. AI stocks have been particularly strong, with C3.ai posting solid earnings and guidance last week.
Given concerns in the market about a possible economic slowdown or recession, analysts have been closely monitoring the S&P 500's earnings per share (EPS) estimates. About 99% of all S&P 500 companies have reported their fourth quarter earnings, and the results, particularly for tech companies, have generally been positive.
U.S. stocks climbed on Thursday, with gains across sectors offsetting declines in financial and consumer discretionary shares. The S&P 500 closed at a record high on Monday, driven by a rally in the technology sector after the U.S. government said it would begin rolling out its $1.9 trillion stimulus package.
The S&P 500 then posted its best monthly gain in nearly a year, rebounding sharply from a sharp sell-off in the first three weeks of February. Analysts still spot relatively bargain stocks due to rally, which is why the S&P 500 is poised to extend its advance through April.
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