The S&P 500 Closes October 2021 At All-Time High

The S&P 500 (Index: SPX) continued the rally it began last week, closing at an all-time high of 4,605.38 on Friday, 29 October 2021.

The trajectory of the S&P 500 index continues to fall within the redzone forecast, though now it falls in the upper half of the forecast range. Sharp-eyed readers will note that with an improving outlook for future dividends, the forecast range itself has shifted to a less negative direction.

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The index began rallying last week when President Biden's proposed tax rate hikes were dropped from legislation under consideration in the U.S. Congress. The market received an additional boost this week when the U.S. House dropped the U.S. Senate's proposal to tax unrealized (or "paper") capital gains, which you'll see captured in the market moving headlines of the week.