U.S. stocks are nearing record highs again after a furious rally — ‘this market could surprise everyone’

• The S&P 500 is just 3% below its record high set in mid-February, when President Donald Trump launched a trade war that began with Canada and Mexico. That puts the index around bull market territory and marks a stunning rebound from just a month ago as markets crashed after Trump unveiled his "Liberation Day" tariffs.

U.S. stocks are already within shouting distance of record highs—just a month after crashing on President Donald Trump's steeper-than-expected "Liberation Day" tariffs.