Goldman Sachs data shows the S&P 500 has surged 95% since late 2022, outperforming most bull markets in the past century.
The S&P 500 has climbed 95% since the end of 2022, placing the current bull market in the top 10% of historical cycles dating back to 1928. The index has gained 51% since its April 2025 low, outpacing the median bull market’s 35% return over a similar period.
Recent pressure has hit tech stocks hard, with semiconductor shares losing $1.5 trillion in market value since June 25. Micron alone has shed $350 billion, while Intel, Applied Materials, and others have each lost over $100 billion amid profit-taking after sharp gains.
Despite the pullback, strategists note the broader market’s momentum remains strong, though trading volumes are thin due to summer lulls and Fed policy uncertainty.