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Penny Stock Market Hits All-Time High Amid ‘Black Friday’ Market Panic

October 20, 2021 Comments Off on Penny Stock Market Hits All-Time High Amid ‘Black Friday’ Market Panic By admin

A stock market rally in recent weeks has helped fuel the stock market’s recent surge in popularity, according to a CNBC analysis.

In its annual Black Friday analysis, CNBC looked at the S&P 500 and its peers and determined that it has surpassed the $1,000-level in just the past month, a milestone that is a significant step closer to hitting $1 trillion.

“For the past several months, the S & P 500 has gained an average of about 1.6% each day, but this morning it reached an all-time high of $1.02, which is still within striking distance of the $9,800 threshold,” CNBC reported.

The chart below shows the S and P 500 stock prices on the day of Black Friday, as well as the day after it.

According to CNBC, the current rally has been fueled by a number of factors, including the fact that consumers are still shopping in huge numbers.

Although the S stock index has been trading at all-year highs for months, it is now up nearly 4 percent this year, according a CNBC report.

Despite the bullish sentiment, some investors may still be concerned about the financial impact the financial crisis has had on the market.

For example, some believe that the economy is slowing down as a result of the economic turmoil and fears of a potential recession.

Another concern may be the potential of the Fed’s latest interest rate hike, which could result in the market plunging even further.

Follow CNBC Live on Twitter @CNBCLive.

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