From CNBC: 2024-06-21 13:59:09

Wall Street has reached record highs with minimal volatility, as the S&P 500 goes 377 days without a sell-off of 2.05% or more – the longest since the financial crisis. Investors are flocking to tech stocks like Nvidia, anticipating AI-driven profits. Federal Reserve rate cut expectations have also lift the market, with inflation nearing the 2% target.

Investors are closely watching the CBOE Volatility Index (VIX), which hit a three-year low last month. The VIX is currently around 13, reflecting market complacency due to active hedging by institutions. The low-volatility period’s duration is uncertain, as history shows volatility can quickly return to the market after periods of calm.

Read more: Stocks are in their longest stretch without a 2% sell-off since the financial crisis