US indices: peak, top and Everest!

Driven by the artificial intelligence craze, the strength of the US economy, hopes of an imminent rate cut and the insolent optimism of investors, despite a rather subdued global economic climate, the major US indices continue to break all-time records. Even the Dow Jones, which is less weighted towards technology stocks, is following the trend. Before we run out of synonyms to describe these bullish advances, let's take a look at the three major Wall Street indices.

Nasdaq 100: 17,400 points

With 12 weeks of gains in the last 13, the Nasdaq seems invincible. After gaining more than 50% in 2023, and almost 3.5% since the start of the year, the technology-dominated index is now above 17,400 points, an all-time record.

Having managed to erase the turmoil of 2022, a year marked by doubts about techs and disenchantment with growth stocks, it is set to gain further momentum with this week's corporate results. Indeed, 5 and 7 of the magnificent companies that have driven the rally in recent months - Alphabet, Amazon, Apple, Meta and Microsoft - will be releasing their quarterly results, and last week's declines by Tesla and Intel have already been forgotten by the market.

S&P 500: 4890 points

The same applies to the S&P 500 , which, with 500 of the largest capitalizations and a heavy technology weighting, is also hitting record highs. It has gained 2.6% since January 1, after gaining nearly 25% in 2023. If there are any contrarians in the room, you should know that the upward trend in index futures seems to indicate that this fervor will continue.

And for those who like their forecasts to come from statistics rather than crystal balls, a quick reminder: since 1953, when the S&P 500 ends January in the green, it's a good omen for the rest of the year, 84% of the time.

Dow Jones: 38,100 points

Not to spoil the party, the Dow Jones, the oldest of the US indices, celebrated two all-time highs last Friday: it reached its highest intraday level (38,214) and its highest closing level (38,109). It has gained 1.2% since the start of the year, having gained over 13% in 2023.

Like its peers, it is benefiting from relatively stable inflation between November and December, rising consumer spending, and is ignoring monetary policies and comments from the Fed.