The S&P 500 is up almost 10% this year, despite war, inflation and AI nerves | CNN Business

New York —

It’s been a wild few months for markets: Oil industry disruption. Resurgent inflation. Nerves about AI. Despite it all, US stocks are still trading near record highs.

The S&P 500 and Nasdaq have surged about 15% and 21%, respectively, since the end of March, bouncing back from an Iran war-related slide for their best quarter in six years.

The indexes are sitting on healthy gains for the year despite a slight pullback in June. All told, the S&P 500 and Nasdaq are up 9.55% and 12.79%, respectively, this year.

The S&P 500 has clinched 24 record highs this year and is about 1.5% from hitting another. The Nasdaq has hit 20 record highs and is about 3.3% away from another.