The S&P 500 closed today at 4,486.23, an all-time high, in round numbers a ~90% return off the pandemic lows. The Nasdaq Composite close of 15,019.80 was also an all-time high, representing an even more impressive ~112% return over the same period. GDP growth which fell to <-30% annualized, triple the post-WWII lows, snapped back, and the survey for the data to be released later this week is 6.5%, a level which, if it achieved, excluding the post-pandemic snap-back, hasn't been higher since 2003. (see chart below)
