Wall Street equities complete longest run of closing highs since 1997

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The S&P 500 on Monday completed its longest streak of all-time closing highs since 1997, with market sentiment buoyed by strong corporate earnings and big central banks affirming their easy monetary policies.

The blue-chip index inched up 0.1 per cent, enough to mark an eighth straight record close. The technology-focused Nasdaq Composite also closed 0.1 per cent higher.

Strong gains in sectors sensitive to economic growth and commodity prices were enough to outweigh the drag of Tesla, which fell 4.9 per cent after chief executive Elon Musk polled Twitter followers on whether to sell more than $20bn worth of shares in the carmaker.

The S&P 500 has now closed at a record high 65 times this year, according to Howard Silverblatt, S&P analyst, the second-highest total in history. It has risen more than 25 per cent since the start of the year, and has more than doubled since the coronavirus-induced market rout of March 2020.

The latest run has been…

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