The S&P 500 climbed to a new all-time high of 7,230.12, up roughly 0.29% on the day, capping what MarketWatch identifies as its strongest monthly performance since 2020. The earnings season driving this move has been notably strong: 82% of reporting companies beat Wall Street's earnings-per-share estimates, and 78% posted year-over-year earnings growth. That combination of price momentum and fundamental support is putting the index on unusually solid footing.
Broad-market index funds and ETFs tied to the S&P 500 — held by most retail investors through 401(k)s and brokerage accounts — are directly benefiting from this move. The earnings beat rate of 82% suggests this rally has real profit growth underneath it, not just sentiment, which makes it more durable than momentum-only rallies. Sectors with high earnings leverage, particularly technology and financials, stand to gain the most if this trend continues into Q2 reporting.
Watch for the remaining S&P 500 Q1 earnings reports over the next 2-3 weeks. The next Federal Reserve rate decision is scheduled for June 17-18, 2025. The May CPI inflation report drops June 11, 2025.
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