Bulls Stay in Control as S&P 500 Notches 9th Consecutive Gain

Marching to 10,000?

The S&P 500 is on fire! This week marked yet another green close, the 9th in a row. Fueled by progress in negotiations between the U.S. and Iran, the index gained another 1.2%, reaching a fresh all-time high just shy of 7,600 points. Over the past twelve months, the S&P 500 is now up an impressive 28%. What a rally!

I recently heard an analyst argue that this bull market could still have another 2–3 years to run, potentially pushing the S&P 500 toward the 10,000-point mark. The reasoning? The AI narrative remains very much alive, and several highly anticipated IPOs may still be ahead, including companies such as SpaceX, OpenAI, and Anthropic. Looking back at the late-1990s bull market, some observers note that the final market peak only arrived after a wave of major IPOs, one to two years later.

Of course, none of this is guaranteed. But it does suggest that sentiment remains broadly bullish for now. At the same time, investors should stay cautious: bull markets often end in periods of extreme optimism and euphoria. Enjoy the ride, but keep an eye out for the signs that the cycle may be nearing its peak.