The Standard & Poor's 500 index crossed a significant milestone on Friday, when it closed above 1500, finishing at 1502.96. It hadn't closed at that level since December 27, 2007. While these numerical thresholds are pretty arbitrary, it's still a nice reminder of how far the market has come in the past few years.
There was another milestone reached on Friday, one that extends even further back: Friday was the eighth consecutive trading day in which the S&P 500 gained. If that doesn't sound so impressive, consider that the S&P hasn't had a winning streak that long since November 2004.
The end of the week also marked the fourth straight week in which the S&P advanced. It's still 4 percent away from its all-time high, though, set back in October 2007.
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