S&P 500 ETF Logs Third 3% Weekly Gain, Nasdaq Hits 13-Day Streak
The S&P 500 recorded a third straight weekly gain exceeding 3%, a feat unseen since November 2002, while Nasdaq, semiconductors, and tech ETFs extended 13-day winning streaks matched only once since 1994. SPDR S&P 500 ETF closed at fresh record highs as market breadth stalls behind the rally.
1. Unprecedented Winning Streaks
The Nasdaq Composite has now won 13 consecutive sessions—a stretch matched only once in over 40 years—while the Philadelphia Semiconductor Index has also hit a 13-day streak for the second time since 1994 and the Technology Select Sector ETF for just the third time since its 1999 launch.
2. Weekly Surge to New Highs
The S&P 500 posted its third straight weekly advance above 3%, a sequence not seen since November 2002, pushing the SPDR S&P 500 ETF to record closing highs. Broader tech-software and transport indexes joined small-cap benchmarks in driving the rally.
3. Breadth and Bubble Comparisons
Despite record highs, advancing issues remain narrowly concentrated, leaving market breadth short of full confirmation. The run echoes both the post-dot-com lows of 2001-2002 and the late-2000 surge preceding the market peak, highlighting mixed outlook and potential risks.