Stellar earnings helped the S&P 500 advance to new all‑time highs. Year‑over‑year earnings growth now stands at 27.7% for Q1 ’26, marking the highest growth rate reported by the index since Q1 ’21. Meanwhile, the situation in the Middle East remains fragile. While negotiations are still ongoing, the U.S. attacked Iranian ports as well as two oil tankers attempting to cross the blockade. On the economic front, the economy added 115,000 jobs in April, which helped ease concerns that AI may limit labor market growth.