The S&P 500 index continued its relentless climb, hitting yet another record high on Thursday as investors remain optimistic about the ongoing economic recovery. The index closed at a new peak of 4,420.57, marking its fifth consecutive record close.

While the S&P 500 soared, the Dow Jones Industrial Average failed to keep pace, trailing behind as investors favor the broader market representation of the S&P 500. This divergence between the two major indexes has raised concerns about the sustainability of the current rally, with some experts warning that stocks may be becoming overvalued relative to bonds.

Despite these warnings, market sentiment remains positive as the S&P 500 notches one record high after another. Investors are closely watching the outcomes of key events, such as the upcoming Europe-U.S. trade meeting, for further clues on the direction of the market.

As the S&P 500 pushes past the 4,500 mark, the question remains whether this record-breaking streak is sustainable in the face of rising inflation and potential interest rate hikes. Only time will tell if the index can maintain its upward trajectory.