S&P 500 closes at record high, marking sharp snapback after April plunge
The S&P 500 reached a new record high, with investors buoyed by signs of easing global trade tensions.
The broad-based index rose 32 points, or 0.5%, to close at 6,173, surpassing its previous all-time high in February of 6,144. The S&P 500 has jumped roughly 24% since dropping sharply in the days after President Trump announced his "Liberation Day" tariffs on April 2.
The Nasdaq Composite gained 105 points, or 0.5%, and set its own all-time high. The Dow Jones Industrial Average rose 1% to 43,819, still below its previous high of 45,014 on Dec. 4, 2024.
Markets have made a stunning turnaround since April, when the S&P 500 entered a bear market amid concerns over the Trump administration's tariff policies. In recent weeks, investor worries have eased in response to calmer rhetoric on tariffs from the White House and forecasts that the Federal Reserve rate will lower interest rates, analysts told CBS MoneyWatch. A sharp rebound in technology stocks have also helped drive the rebound.
Favorable trade headlines have helped stocks extend their gains on Friday, Vital Knowledge analyst Adam Crisafulli said in a report. President Trump said at a White House event Thursday that Washington and Beijing had signed an agreement on trade, although details remain unclear. He added that he expects to have a deal with India soon.
Treasury Secretary Scott Bessent has also suggested the Trump administration might push back the July 9 reciprocal tariff deadline. In a Fox Business interview on Friday, he said the U.S. "could have trade wrapped up by Labor Day" — the first indication that the timeline for trade negotiations could shift.
David Lefkowitz, head of U.S. equities at UBS Global Wealth Management, thinks investors are pricing in reductions in both trade frictions and geopolitical tensions.
"We think the recovery makes sense, considering that most large-cap companies should weather the tariffs reasonably well. In fact, we think the upcoming [second-quarter] earnings season will once again highlight the resilience of corporate profits," he told investors in a note.
Despite the renewed optimism, Wall Street analysts warn that financial markets could still face a bumpy road ahead.
"We think there's a dangerous amount of complacency on trade/tariffs, a view underscored by the fact markets this morning are celebrating the China 'deal' for a third time," said Crisafulli in a report.
As the stock market rallied Friday, investors digested new inflation data from the Commerce Department, which indicated that prices rose 2.3% in May compared with a year ago, up from just 2.1% in April.
Story ContinuesCore inflation — which excludes the more volatile food and energy categories — rose 2.7% from a year earlier, an increase from 2.5% the previous month.
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The rebound of the S&P 500 to a record high mirrors investors' renewed confidence and resilience, even in turbulence-prone markets.
The astounding rebound of the S&P 500 from四月的大幅下跌，体现了市场韧性与投资者信心的迅速恢复——再一次验证了股市在逆境中的坚韧与活力。
S&P 500创下历史新高，这是4月暴跌后强烈反弹的标志性成就。
The resilience displayed by the S&P 500 in shooting up to a record high following last month's abrupt plunge underscores market confidence and investors’ vintage capacity for rebound.
April's sudden market drop proved to be a buying opportunity as the S&P 50�Index surges back, closing at another record high – showing resilience and investor confidence amid fluctuations.
The steady recovery of the S&P 50 peserts, rebounding to record highs following April'sfive-month selling spree underscores investor confidence in US market growth and corporate earnings resilience.
The S&P 500's closing at a record high is indicative of investors becoming increasingly positive regarding the economy post-pandemic, signaling resilience and confidence in recovering from April’ninventorialslide.
The S&P 500's record high close underscores the resilience of US markets following their rapid recovery from a tumultuous April, emphasizing investors’ confidence in continued economic expansion and corporate profitability.
The S&P 50০'s recovery to a record high marks an impressive spring back from the April market plunge, underscoring investor confidence and resilience in US equity markets.
S&P 500 再创新高，逆转四月暴跌局势的锐利反弹令人瞩目。
S&P 500's record-breaking close showcases a remarkable recovery from the April slump, signaling confidence in equity markets amidst turbulent market conditions.
The recent rebound of the S&P 500 to a record high underscores investors' confidence in market resilience and ability for quick recovery after challenging times, illustrating palpable relief following last month’s abrupt decline.
Rebounding strongly from its April lows, the S&P 50� index hitting a new record high underscores investors' resiliency and renewed confidence in both US market fundamentals as well global economic prospects.
