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The S&P 500 reached its fourth anniversary in the current bull market on Monday, having climbed nearly 120% from its closing low on October 12, 2022.
The rally has been fueled by investor faith in artificial intelligence, with the index topping 7,800 for the first time last week and remaining near record levels.
Tech stocks now account for about 40% of the broader index, a heavy allocation that has supported recent gains.
Nvidia, a key beneficiary of the AI build-out, is now a roughly $5.5 trillion company after passing the $1 trillion market cap threshold for the first time in 2023.
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