The stock market has been on a tear in recent weeks, with major indices reaching new highs as investors remain bullish on the economy. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all hit record highs in the past week, with the Dow and S&P 500 both closing above 30,000 for the first time ever.
The surge in stock prices has been driven by a combination of factors, including strong economic data, a vaccine-fueled recovery, and a wave of stimulus from the federal government. The U.S. economy has been showing signs of strength, with the unemployment rate falling to 6.7% in November and consumer spending rising.
At the same time, investors have been encouraged by the progress of vaccine development. Several vaccines have been approved for emergency use, and more are expected to be approved in the coming months. This has led to optimism that the economy will be able to recover from the pandemic-induced recession more quickly than expected.
The federal government has also been providing additional stimulus to the economy, with the latest round of stimulus totaling $900 billion. This has helped to boost consumer confidence and spending, which has been a major driver of the stock market rally.
Overall, investors remain bullish on the stock market and the economy. With the progress of vaccine development and additional stimulus from the government, the outlook for the stock market remains positive. As long as the economy continues to recover, stocks should remain at or near their current highs.