S&P 500 Tops 5,000 Milestone Amid Retreating Inflation and Strong Earnings Momentum

• S&P 500 closes above 5,000 for the first time on Friday, up 22% since late October 2022 • Stock market rally driven by resilient US economy, retreating inflation, strong corporate earnings • US inflation eased more than expected in December, now approaching pre-pandemic levels • Analysts say breaching 5,000 milestone unlikely to slow S&P 500's rise given strong momentum • Since November 2020 election, S&P 500 has surged about 49% under Biden administration