The S 500 (SNPINDEX: ^GSPC) is one of three major U.S. financial indexes, but it often serves as the primary benchmark for the U.S. stock market. The reason for that is simple: The S 500 is more diversified than the Dow Jones Industrial Average and the Nasdaq Composite, and it includes about 80% of U.S. stocks as measured by market capitalization.

The S 500 reached a record high in Jan. 2024 for the first time in two years, removing any doubts that the index has entered a bull market. The two main conditions for a bull market include: (1) The index has advanced at least 20% from its bear market low, and (2) the index has reached a new all-time high.

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Source Fool.com