The S&P 500 has hit a new all-time high, pushing the benchmark past its previous record high of 7,002.28. Despite the ongoing war with Iran and rising energy costs threatening global growth prospects, the broad-based stock index rose by 0.5%. This is a remarkable turnaround for the broad stock index, after it plunged 9.8% to a low of 6,316.91 on March 30 due to the U.S.-Israel war on Iran and the soaring oil price. Ed Yardeni, president of Yardenia Research, noted a sharp rise in the shares of the biggest tech companies since the S&T's low on March30, with a fund that measures only the “Magnificent 7” mega-cap tech stocks up 14.8%. Economists warn that high fuel prices will slow the global economy this year and may cause global growth to be cut by 3.1% in 2026. Despite this optimism, some experts believe caution is warranted.