S&P 500 posts longest winning streak since 2004

<p>The S&P 500 has enjoyed its longest rally since 2004.</p>

The Standard & Poor's 500 (S&P 500) index has posted its longest winning streak since 2004, as major companies report increased profits and German business confidence drives shares higher.

Bloomberg reports that Starbucks – the world's largest coffee shop franchise – enjoyed an advance of four per cent, while consumer products manufacturer Procter & Gamble (P&G) gained by 3.6 per cent and raised its earnings forecast for this year.

P&G shares rose to $72.92 per unit after reporting better-than-expected second-quarter profits, while its net income more than doubled to $4.06 billion (£2.5 billion).

Some 76 per cent of the 147 companies on the S&P 500 lists that have released results so far this quarter exceeded profit prediction, while 67 per cent topped sales projections.

At 16:09 GMT today (January 25th), the S&P 500 Cash Index rose by 0.1 per cent to an index value of 1496.7 points – which is just lower than its 52-week zenith of 1502.2 points achieved this week.

Find out about the US stock markets and spread betting strategies at City Index.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.