S&P 500 Eyes New Peak Amid Wealth-Driven Market Surge

The current market trend is driven by a virtuous cycle where rising stocks are boosting wealth, leading to increased spending and further stock gains, potentially propelling the S&P 500 to a new high.
Despite concerns about high debt levels, data from Fidelity Investments shows a significant increase in 401(k) millionaire accounts, indicating that the stock market gains are fueling this positive cycle.
To slow down spending and potentially impact the market, a decline in wealth, stocks, or other key factors driving consumer confidence would be necessary.