S&P 500 Hits New Record High on Tech Rally and Hope of Lower Rates
• S&P 500 index hit a record high, crossing above its January 2022 peak • Gains driven by tech stocks like Apple, Microsoft, Meta and Nvidia • Comes after stocks fell into a bear market in 2022 on inflation/rate hike fears • Rally fueled by hopes inflation decreasing and Fed may cut rates in 2024 • Reaching new highs doesn't eliminate recession or extended high rates risk