The stock market's astonishing returns

Data: YCharts; Chart: Axios VisualsA year ago, the 30-year return for the S&P 500 was 834%, which is to say it rose just over ninefold between the end of Q3 1993 and the end of Q3 2023. Today, the index’s 30-year return is 1,135% — it’s risen more than twelvefold in the past 30 years, and currently stands at an all-time high. Why it matters: The stock market has been on a tear of late — up 34% over the past year and up 20% year to date. That’s the best stock-market performance in the first three quarters since 1997, and it’s boosted total returns over pretty much any time horizon. By…