The S&P 500 just cracked 5,000 points — but don't count on its stellar returns continuing

• The S&P 500 set a new milestone on Thursday when it briefly passed 5,000 points for the first time.
• The benchmark US stock index has defied doomsayers and vindicated its true believers.
• Yet experts including Burton Malkiel and Gary Shilling have warned its returns are likely to falter.

The S&P 500 made history on Thursday when it briefly touched 5,000 points for the first time.

The benchmark US stock index has defied bears and vindicated bulls in recent years — but it could be headed for a slowdown.

The index of large-cap stocks took 757 days after cracking 4,800 points to cross the 4,900 mark, but only another 15 days to pass the 5,000-point threshold, Charlie Billelo noted on X.