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S&P 500 logs 25 all-time highs in 2026 as earnings power picks up
The index’s second-quarter earnings are on pace for 29% year-over-year growth, helping lift total returns to 13.7% through August 7.
The S&P 500 has reached 25 all-time highs in 2026, marking its seventh-best start in 33 years, according to Bloomberg Terminal data cited by Yahoo Finance. Tuesday’s close added to a record-setting run that brought 2026 to 25 new peaks, after 39 all-time highs last year and 57 in 2024.
Yahoo Finance said the rally has been fueled by 29% year-over-year earnings growth expectations for the second quarter. Jonathan Levin at Bloomberg Opinion, as referenced by Yahoo Finance, also noted that analysts are raising 12-month EPS estimates at an unusually fast pace.
The story highlights that mega-cap winners have helped amplify index performance. Micron’s 208% year-to-date return generated nearly as much impact on the S&P 500 as Nvidia despite Micron having a much smaller index weight, the outlet said.
Yahoo Finance added that forward valuation has risen alongside the index, with the forward price-to-earnings ratio climbing as well. The piece framed the key risk as whether earnings growth can keep up with the higher multiple that investors are paying for expected results.
Latest closeS&P 500 7,709.96 ▼0.2%