Yesterday, the S&P 500 rose 0.2%, closing at a new peak after several days of fluctuating around this level.

Closing the session on August 18, the S&P 500 rose 0.23% to a record of 3,389 points, surpassing the 3,386 peak set in February. The Nasdaq Composite also rose 0.73% to the top of 11,210 points.

In contrast, DJIA fell 0.24% to 27,778 points. This index was dragged down by stocks of energy and finance. Currently, DJIA is still 6% lower than the nearest peak.

Meanwhile, this is the first time the S&P 500 has peaked since Covid-19 appeared in the US. This index has fluctuated around the peak for many days, but only closed at the top until now.

This is of great significance, as it shows that Wall Street only took 5 months to go from bottom to new top. This is also the shortest down-price market in US stock history. "It's hard to believe, but the 2020 bear market is officially over," said Solita Marcelli, a leader at UBS Global Wealth Management.

The market went up thanks to the impact of a record fiscal and monetary stimulus package during the pandemic, as well as investors' expectations for a rapid economic recovery. "This is unfavorable news for investors who expect the market to continue going down to buy in. But looking optimistically, the bull market also gives them many opportunities," Marcelli said.

Although large-cap stocks in the US have risen sharply over the summer, small caps, as well as foreign companies listed here, still have room for growth.

"Many people still wonder why stocks peaked, when the unemployment rate was at 10% and nearly a million people applied for unemployment benefits for the first time. The facts are that the figures are in the past and Stocks look to the future, "explains Ryan Detrick - investment strategist at LPL Financial.