
The stock market has rallied significantly in the past two years, far more than what even some bulls would have expected. The rally has continued despite high interest rates, mostly thanks to the AI and cloud computing boom. This rally has spilled over into many other companies, and recent price action has also been surprisingly bullish.
So far this year alone, the market has shown significant resilience. The S&P 500 Index ($SPX) is less than 3% off its peak despite new tariffs and U.S.-China trade tensions.