A 2-month rally pushed the stock market to record highs — but watch for these risks in July

Market Snapshot

July is historically a strong month for stocks, but macroeconomic updates loom

Published: June 29, 2025 at 12:00 p.m. ET

The stock market shrugged off the U.S. bombing of Iran, the continuing global trade war and a Wall Street adage advising investors to “sell in May and go away” — and now looks to end June near record territory.

Both the S&P 500 and Nasdaq Composite hit record closing highs on Friday, surpassing previous highs reached in February and December, respectively. There are a few things that could push this rally further, but there are also risks that investors should be aware of.