S&P 500 and Nasdaq Hit Record Monthly Highs

The S&P 500 and Nasdaq both closed at record highs, capping what analysts are calling their best monthly performance since 2020. The rally marks a notable milestone for US equities, which have climbed steadily through the month. One analyst pointed to corporate profits as the primary engine behind the gains. Strong earnings tend to justify higher stock valuations, giving investors confidence to push prices up rather than pull back. The 2020 comparison matters for context. That year saw an extraordinary rebound after pandemic-driven crash lows, so matching or exceeding that monthly gain signals real momentum, not just a routine uptick. Watch whether upcoming earnings reports sustain the profit story or show cracks. If corporate results start missing expectations, the rationale supporting these record levels weakens quickly. For now, the market is pricing in continued earnings strength across major companies.