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Nir Kaissar

U.S. Stock Records Are Nice But Pale Against the World

American investors cheer milestones as they get outpaced by overseas markets.
Photographer: Joel Saget/AFP/Getty Images

It has been a year of milestones for U.S. stocks. The S&P 500 closed above 2,500 for the first time on Friday. The Dow Jones Industrial Average topped 20,000 in January. And let’s not forget the countless highs this year.   

As my Bloomberg Prophets colleague Ben Carlson pointed out last week, the market is on track for another feat. The S&P 500 has suffered at least one negative month every year since 1927, the first full year for which numbers are available. But the index is up every month this year, including dividends, and it’s up again in September through Tuesday.