The S&P 500 hit an all-time high this week, closing Monday at nearly 3,000 points, increasing 0.8 percent over the month.
Rather than seeing it as a new height, financial experts are calling it another wrung on the ladder.
This is the second month in a row the S&P reached a new mark. Among other factors, experts attribute the consistent growth to looming interest rate cuts.
“Earnings have been pretty decent for the S&P 500 companies and they continue to push up and push forward. So, I think those two events combined have added to the run up in the S&P 500,” said David Wald, Securian Financial Advisor.
Wald went onto to say the prospective investors should avoid getting wrapped up in the euphoria of all-time highs, and continue investing based on needs and strategies.
Despite economic growth slowing down, Wald said this is the result of a normal business cycle.