The S&P 500 Is on Track to Set a Record Winning Streak.

What’s behind the S&P’s recent surge? $S&P 500 Index (.SPX.US)$

Well, despite rumors of an impending hard landing, it seems the stock market has had its own ideas. The S&P has only seen green in November, climbing more than 6% since Friday, Oct. 27.

Meanwhile, Wednesday marked the Nasdaq Composite’s ninth-straight day of gains, amounting to an around 8% increase. This gave both indices their longest winning streak since November 2021.

Interestingly, the past week of gains have come from some unlikely sources. The biggest winners of the recent rally include $Expedia (EXPE.US)$ , which is up 26.8% over the past eight trading days, $Generac (GNRC.US)$ up 26.3%, $Gartner (IT.US)$ up 22.1%, $Warner Bros Discovery (WBD.US)$ up 21.6% and $Monolithic Power Systems (MPWR.US)$ up 21.3%.

Remarkably, the rally has pushed the S&P 500 up over 14% year-to-date (YTD), even despite the nearly 10% decline from August through October. As of this writing, the Nasdaq is also up a staggering 31% YTD, having almost recovered from its own 12% downswing over the past few months.