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Economy4 days ago· 1 min read

S&P 500, Nasdaq Hit Records as Markets Rally on Strong Earnings and Middle East Relief

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Stock markets reached all-time highs after a strong earnings week, with investor optimism over potential Middle East resolution and robust corporate earnings offsetting concerns about oil prices and economic slowdown.

Market Records Amid Strong Earnings

Stocks rose on Thursday, with the S&P 500 reaching a fresh all-time high, as investors reacted to upbeat earnings from Caterpillar and Alphabet. The broad market index rose 1.02% to close at 7,209.01, its first close above the 7,200 threshold, and the tech-heavy Nasdaq jumped 0.89% to 24,892.31, hitting new intraday and closing records as well.

Strong Earnings Support Growth

Q1 2026 earnings season is past the halfway mark with about 63% of S&P 500 companies having reported, with 84% beating EPS estimates and an aggregate 20.7% above consensus.

AI Spending Driving Gains

Index gains are concentrated in a handful of names, especially mega-cap AI like Nvidia and Broadcom. Market breadth, or the share of stocks participating in the rally, has dropped to its narrowest level since the dotcom era, which is typically a warning sign before a correction.

Optimism Despite Uncertainties

Investors' hopefulness over the situation in the Middle East and a strong first-quarter earnings season have driven stocks higher to new records, with Bank of America strategist Nigel Tupper seeing reason to remain bullish going forward.

#Stock markets#Corporate earnings#AI boom#Tech stocks

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