S&P 500 Close to a Record Stretch Without a Stock Hitting a High

(Bloomberg) -- The S&P 500 Index is up almost 10 percent in the two weeks since the Christmas Eve massacre. What it hasn’t seen in that time span is a breakout star.

Illustrating just how deep, widespread and painful the end of 2018 was for U.S. equity investors, no stock in the index has reached a new 52-week high in 14 trading days, tied for the longest stretch on record, according to data compiled by Bloomberg going back to 1990.

S&P 500 Close to a Record Stretch Without a Stock Hitting a High

The benchmark gauge remains 12 percent below the all-time high it reached Sept. 20 after suffering from the worst December since the Great Depression. Investors have been somewhat soothed by Fed Chairman Jerome Powell’s remarks Jan. 4 that policy makers would be sensitive to the message that markets were sending about downside risks.

CenterPoint Energy Inc. was the last index member to set a new high when it traded at $29.63 on Dec. 17. The previous longest star-less streak ended on May 28, 2009, two months after the S&P 500 Index bottomed following the 2008 market crash.

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