The S&P 500 hit an all-time record high on Friday, extending breakneck gains achieved in recent weeks as investors shrugged off concerns about newly imposed tariffs and war in the Middle East.
The S&P 500 climbed 0.3%, clocking in for the first time ever at 6,156.
Over the past month — even as U.S.-China trade tensions resurfaced and conflict grew in the Middle East — the S&P 500 climbed more than 5%.
In all, the S&P 500 has soared more than 20% since an April low in the wake of President Donald Trump’s “Liberation Day” tariff announcement. Over that period, the tech-heavy Nasdaq has climbed 28%, while the Dow Jones Industrial Average has jumped 12%.
Concern among investors about topsy-turvy economic policy has given way to cautious optimism about a dialed-back tariff posture and continued economic growth, some analysts previously told ABC News.
In recent weeks, Trump has rolled back some of his steepest levies, easing costs imposed upon companies and alleviating concern about a sharp surge of inflation.
Traders work on the floor at the New York Stock Exchange in New York City, June 25, 2025.
Jeenah Moon/Reuters
A trade agreement last month between the U.S. and China slashed tit-for-tat tariffs between the world’s two largest economies and triggered a surge in the stock market. Within days, Wall Street firms softened their forecasts of a downturn.
The downshift of tariffs has coincided with data demonstrating a healthy economy.
Fresh inflation data earlier this month showed a slight acceleration of price increases, but inflation remains near its lowest level since 2021. Hiring slowed but remained sturdy in May as the uncertainty surrounding on-again, off-again tariffs appeared to curtail hiring less than some economists feared, a government report this month showed.
The outbreak of tit-for-tat strikes between Iran and Israel earlier this month sent stocks falling and hiked oil prices. Those challenges proved short-lived, however, as stocks resumed their gains and oil prices eased amid a ceasefire.
