In a clear display of confidence, US President Joe Biden has expressed a positive outlook on the American economy, paralleled by the remarkable growth of the S&P 500 stock index. The American leader made sure that the good news reached social media users and all other interested parties. "Good news for folks as we start the weekend. The stock market going strong is a sign of confidence in America’s economy," Biden said in a statement. This response from the US president came amid the news that the S&P 500 index has reached a record high. On Friday, February 9, the index closed at 5,026.61, posting a 20% increase since late October 2023. It has been reported that for the first time in its history, this crucial stock market indicator, which includes shares of the largest US companies, ended a session above the 5,000-point mark. Analysts have pointed out the S&P 500's journey, noting that it took 4,168 trading sessions to climb from 1,000 to 2,000 points – a span of 16 years from 1998 to 2014. The index then crossed the 3,000-point threshold in 1,227 trading days (from 2014 to 2019). The pace of growth accelerated thereafter: it took just 719 sessions for the index to surpass the notable 5,000-point threshold.
