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“Streak Of Success! Growth Stocks Power Up The Market

The stock market continues to remain on a positive trajectory as the three major stock indexes recently extended their winning streak. This ongoing trend of positive market conditions is predominantly powered by growth stocks that dominate their respective sectors, with the overall market being bolstered by the extended period of economic growth. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all managed to reach another record-high on Thursday, officially cementing their place in what is becoming an unprecedented positive streak for the US stock market. The S&P 500 has now registered its seventh straight monthly advance, the Nasdaq Composite has enjoyed its fifth consecutive positive month, and the Dow Jones Industrial Average has hit a new record high on more than one occasion in the last two weeks alone. Growth stocks appear to be the primary driver of this positive trend, with many of the market’s high profile stocks setting new all-time highs and hitting new levels that have been unseen before. Notable names include tech giant Apple, which reached its highest value ever on Thursday, and Amazon, which also managed to reach its record market value. These two stocks, along with many others, are currently trading at their highest price-to-earnings ratios in many years, indicating that investors are increasingly confident that these growth stocks will continue to generate profits. This is also evident in the fact that the S&P 500 Growth Index, which tracks only growth stocks, has outperformed its counterpart, the S&P 500 Value Index, every day since early May. The US economic outlook also remains largely unchanged, with unemployment staying at a post-war low and job growth continuing to increase. The US Government has also turned its focus to building the economy for the future, with its recent investment in the technology and energy sectors in particular, helping to bolster economic conditions even further. Overall, it appears that the current stock market climate bodes well for enthusiastic investors who have faith in the ongoing period of economic growth. It also seems that the attitude of investors towards the many growth stocks has been largely positive, with these companies continuing to set new records on a daily basis. With the US economic outlook remaining largely positive, it doesn’t seem that the current winning streak for the stock market will be waning anytime soon.