S&P, Nasdaq Close at Record Highs

The S&P 500 and Nasdaq closed at record highs on Friday, marking the fastest recovery on record from a 15% drop in early April.

The Details: The S&P 500 surpassed highs last seen in February, finishing its 0.52% rise at 6,173.07. The stock market saw a brief but notable dip when President Donald Trump announced an end to all trade negotiations with Canada.

For Context: Despite the stock market surges, the US economy contracted by 0.5% in the first quarter of 2025 – higher than initially projected. The decline was primarily due to increased tariffs and imports.

How The Media Covered It: Breitbart (Right bias) credited the record highs to “a trifecta of favorable developments”: the (allegedly) rising popularity of Trump’s proposed “One Big, Beautiful Bill Act,” cooled inflation, and Trump’s foreign affairs in the Middle East. The article added, “A widely followed sentiment survey showed the expected one-year inflation rate falling to 5 percent, down from 6.6 percent a month earlier,” but the study mentioned was not cited. The New York Times (Lean Left) also credited milder tensions in the Middle East to the surge, but it less-so attributed the feat to Trump and noted how the stock market may dip in the future. The Times did, however, mark Trump’s tariff delay in April as a kickoff point. It stated the record highs were “a remarkable turnaround for a stock market that just a few months ago was being battered by investors’ fears that President Trump’s tariff proposals would bring chaos to global trade.” The Wall Street Journal (Center) also highlighted the speed of the turnaround, noting a “wild 89 trading days” since the end of March.

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