The S&P 500 just reached its 28th all-time high in 2026, surpassing a market capitalization of $71 trillion for the first time in history.
This is happening despite:
1. 10-year, 20-year, and 30-year Treasury yields at 24-year highs
2. Inflation at 3.4%, above expectations
3. Mortgage rates at 7.28%, the highest since 2023
4. The Fed raising interest rates for the first time since 2023
5. Unemployment rising to 4.2%, a 3-month high
6. Gas prices at $4.36 per gallon, up 39% year over year
7. Diesel prices above $6.3 per gallon
8. Crude oil prices around $88–95 per barrel
9. Consumer sentiment at 48.1, its second-lowest level in 74 years
This is happening despite:
1. 10-year, 20-year, and 30-year Treasury yields at 24-year highs
2. Inflation at 3.4%, above expectations
3. Mortgage rates at 7.28%, the highest since 2023
4. The Fed raising interest rates for the first time since 2023
5. Unemployment rising to 4.2%, a 3-month high
6. Gas prices at $4.36 per gallon, up 39% year over year
7. Diesel prices above $6.3 per gallon
8. Crude oil prices around $88–95 per barrel
9. Consumer sentiment at 48.1, its second-lowest level in 74 years