The Standard & Poor’s 500 Index closed at 1,833.32 the day before Christmas, setting its third new high in a row.
The stock index has risen 29 percent this year, and is on course for its biggest annual rally since 1997. This month alone, it is up 1.5 percent.
The S&P 500 is up 171 percent since it reached a 12-year-low in 2009, during the worst economic downturn since the Great Depression.
“The economic expansion is in good shape, and the stock market is reflecting that,” Brad McMillan, chief investment officer for Waltham, Massachusetts-based Commonwealth Financial Network, told Bloomberg’s Nick Taborek.