The S&P 500 climbed throughout the week, finishing Friday at a new record high. The index posted a 3.4% weekly gain, snapping its two-week losing streak.
The S&P 500 is hovering around its all-time high, and optimism is rising among Wall Street's analysts. One notable figure, Brian Belski, Chief Investment Strategist at BMO Capital Markets, believes the index has much more room to climb this year, as quoted on Yahoo Finance.
8:50am: Core inflation tops forecasts in May US inflation remained above the Federal Reserve's 2% target in May, with core prices rising more than expected, complicating the case for interest rate cuts later this year. The Personal Consumption Expenditures (PCE) price index—the Fed's preferred inflation gauge—rose 2.3% year-over-year, in line with estimates.
The index's first record since February follows a rapid and dramatic recovery from April's tariff-induced selloff.
Risks for stocks seem to be fading as markets focus on rate cuts and tax cuts.
CNBC's Jim Cramer said he wanted to demonstrate that a broad group of stocks are seeing gains, and he reviewed some of the day's best S&P 500 performers. "Everyone who warned you that the market was too narrow to go higher is now either closing out their short positions or getting their faces ripped off," he said.
The S&P 500 index briefly surpassed its all-time record high on Thursday — the latest development in what has been a remarkable comeback from the precipice of a bear market.
Market Domination anchor Josh Lipton breaks down the latest market and financial news for June 25, 2025. Stocks were mixed, with the S&P 500 less than 1% from a new record high.
An avalanche of cash could be heading for the stock market over the next month or so, one Wall Street strategist said on Wednesday.
A stock or an index breaking above a key level, on its own, is a bullish signal.
The index is back within touching distance of the record close it notched in mid-February.
The largest companies tend to have more pricing power given their reach and powerful brands.