After a roller-coaster week, U.S. stocks enter the new week riding near record highs. All three major indexes notched gains last week, capping an extraordinary 2025 rally. The Dow Jones Industrial Average briefly crossed 46,500 and closed around 46,190 on Friday – an all-time hights2.tech. The S&P 500 likewise hit a record ~6,664ts2.tech. The Nasdaq Composite ended at 22,680, within a few percent of its peakts2.tech. This resilience came despite a flurry of mid-week scares that sent volatility soaring. “Intraday swings grew sharper as traders reacted to each new headline,” one analyst observedts2.tech. Indeed, the market’s “fear gauge” – the VIX – spiked toward 29, its highest in about six monthsts2.tech, before settling back down as dip-buyers stepped in. Every pullback was met with eager bargain-hunting, allowing the indexes to rebound and finish strongts2.tech. The mood on Wall Street has been described as “cautiously optimistic”: investors know stocks are near records and “not out of the woods” yetts2.tech, but they also feel that solid fundamentals justify these heights. Robust corporate earnings have underpinned the rally – about 86% of S&P companies reporting so far beat forecasts, a remarkably high “beat” rate fueling confidencets2.tech. And critically, hopes are high that the
