CNBC Business News Update Market Close: Stocks Higher, China Might Offer To Fight Fentanyl, S&P 500 Index Longest Winning Streak In 20 Years, Vodka Lemonade The 'Drink Of The Summer' 5/2/25
May 2, 2025
Explore the S&P 500's impressive winning streak and what it means for investors. Discover how cultural trends, like Fortnite returning to Apple devices, are shaping market dynamics. Plus, learn about the rise of Vodka Lemonade as the drink of the summer. The chat also touches on key economic indicators and hints at exciting upcoming earnings and product launches.
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S&P 500 Longest Winning Streak
- The S&P 500 index is experiencing its longest winning streak in 20 years and is back to its level from the president's tariff announcement day.
- This highlights the challenges of timing the market and the benefits of portfolio diversification, especially with Europe up 15% year to date.
China Fentanyl Trade Impact
- China may offer to fight the fentanyl trade as a diplomatic move to initiate trade talks with the U.S.
- Investors view this as a positive breakthrough impacting market sentiment.
Market Recovery Percentages Matter
- After a 19% near bear market correction, the market has recovered over 50% of that loss.
- Historically, once half of a near bear market loss is recovered, a new low rarely follows.