The S&P 500 has risen to a record high, as investors continue to rally after the Fed lowered interest rates and boosted its benchmark interest rate target to 0.25% from the historically low 0.01%.
The index has surged more than 10% in the past 24 hours, while the Dow Jones Industrial Average has dropped by more than 50 points.
“It’s the biggest rally of the year,” said Peter Romm, head of global fixed income research at TD Securities.
“It’s like a giant boom that has only just started.
It’s all over.”
The S&s have already broken through the 20-day high set in mid-January and have gained nearly 80% this year, according to Bloomberg.
The S+P has climbed nearly 70% since February and is up almost 6% in 2017, according a Bloomberg survey of the top 20 financial indexes.
Investors have also taken advantage of lower interest rates.
The Fed’s December rate cut, which lowered the central bank’s key rate to zero, has helped push up the price of Treasurys, or U.S. government bonds.
The yield on the 10-year U.A.E. Treasury note is up nearly 60 basis points over the past three months.
Treasuries have become more expensive because the Fed has eased interest rates, driving them higher.
The SAC has also surged in recent weeks, hitting its record high in the last week.
The benchmark S&am index is up more than 5% in January, as has the Nasdaq Composite.
The U.K. stock market is also surging.
The FTSE 100 index of British shares is up 3.2%, while the Russell 2000 index is 1.5%.
The FASB-UK has climbed 5.9% in February.
The MSCI U.N. index of emerging markets is up 4.5% this month.
On the tech front, the Dow is up 20% this week, while Facebook shares are up 2.4% and Amazon is up 2%.
On the oil market, crude oil is up about 1.2% this morning.
Brent crude, the world’s top benchmark, is up 0.3% on the day.
The dollar is up roughly 2% on Tuesday and has climbed almost 6%.
The euro EURUSD was down 0.6% at $1.1675, compared with $1:867.50 on Friday.