"The index has gone up 11% since the start of the year nearly half of the gains that it saw last year. The Dow and S&P 500 continue to bump close to record highs. Each time investors shake off the latest shock and reach new highs, questions arise: what is driving this phenomenon, and how long can this bull market last? Guardian graphic."
Oil prices rose and the Iran conflict worsened, pushing the Dow and Nasdaq into correction territory after weeks of selling. Seven weeks later, oil remained high and the Strait of Hormuz was still closed, while peace talks appeared fragile. Donald Trump said he was not motivated by Americans’ financial situation to end the war. Despite these pressures, markets recovered and continued rising. The US stock market had already shown resilience through the Covid-19 recession, generational-high inflation, Russia’s invasion of Ukraine, and tariff disputes. Consumer affordability struggles and low consumer confidence persisted, yet equities kept climbing. The Nasdaq surged on continued AI investment, while the Dow and S&P 500 approached record highs.
Read at www.theguardian.com
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