11 Record Highs Point to Continued Bull Market

The US stock market continues to hit new highs, and while some investors worry that stocks have risen too far, a growing number of market indicators suggest the rally may still have room to run.

In the latest Macro Mornings report, strategist Alessandro Fasanella highlights 11 market records that he believes reflect underlying strength rather than the warning signs typically seen before a major downturn.

According to the report, today’s market is being supported by more than just enthusiasm around artificial intelligence. Strong corporate earnings, resilient economic activity, and improving market participation are all helping sustain the advance.

Among the bullish signals highlighted are:

Major US stock indexes continue to trade at record highs.
Market breadth is improving, meaning a wider range of stocks is participating in the rally.
Corporate earnings remain resilient, providing fundamental support for higher share prices.
Credit markets remain stable, suggesting investors are not yet pricing in significant financial stress.
Liquidity conditions continue to support risk assets, even as interest rates remain elevated.

The report argues that record highs on their own should not be viewed as a reason to become bearish. Historically, new highs often occur during the strongest phases of a bull market, especially when they are backed by improving fundamentals rather than speculative buying alone.

That said, Fasanella notes that investors should continue watching inflation, interest rates, and geopolitical developments, as any unexpected deterioration in those areas could change the market outlook.

For investors, the report offers a reminder that strong markets can stay strong longer than many expect. While short-term pullbacks are always possible, the broader mix of earnings growth, healthy credit markets, and improving participation suggests the current bull market remains well supported.