The previous 11 occurrences were concentrated in December 1991, December 1999 and March 2000, with one, six and four sessions, respectively. Separately, new lows on the New York Stock Exchange outnumbered new highs by 2.6 to one Tuesday. Jason Goepfert’s compilation lists the previous instances of a ratio above two alongside an S&P 500 record close in 1929 and 1999.
The S&P 500 gained 0.59% to 7,820.07 Tuesday as technology shares rose and Treasury yields declined. The strength of AI stocks continued to obscure losses elsewhere: Goldman Sachs’ Brian Garrett said a version of the S&P 500 excluding AI stocks had fallen roughly 7% from its late-August peak, giving back its entire summer rally.