The U.S. stock market ended the first half of 2025 with back-to-back record highs, defying a rollicking few months of trade tensions and economic uncertainty that sent it deep into negative terrain in April.
The S&P 500, the widely followed index that underpins the retirement accounts of millions of Americans, sank into a deep correction after President Donald Trump announced sweeping tariffs, rattling financial markets in March and April. But momentum shifted over the next several weeks as the White House backed off its steepest tariffs. On Monday, the benchmark index closed at 6,204.95, up 0.5 percent, building on its record finish from Friday. It’s now up5.5 percent for the year.
The tech-heavy Nasdaq composite index also ended 0.5 percent higher, to settle at 20,369.73, for its second consecutive record finish. It has gained 5.5 percent for the year. The Dow Jones Industrial Average climbed 0.6 percent, to 44,094.77, and has now advanced 3.6 percent year to date.
The recent highs — coming about 90 days after the previous record in February — mark “one of the quickest recoveries that we’ve seen in recent times,” said Larry Adam, chief investment officer at Raymond James.
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