Gold is soaring. So are stocks. That's not normal. (Photo by Christopher Furlong/Getty Images)Getty ImagesGold and the stock market don’t usually share the spotlight. When they do, it might mean the usual signals of fear and confidence are colliding. Or it might mean something deeper is brewing.Gold has risen 44% this year. The S&P 500 Index is up 14%. On Monday, both closed at new highs. The two asset classes hitting all-time highs on the same day has now happened 6 times in 2025. It happened 10 times in 2 ...

Tariffs and Trade - Uncertainty surrounding tariffs is hindering mergers and acquisitions [1] - The impact of tariffs on the S&P 500 earnings is estimated to be around 17% [6] - The market is waiting to see the actual impact of tariffs on earnings this earning season [3] - A tariff level around 20% is considered a threshold where adjustment time increases [3] Macroeconomic Factors - The underlying economy is showing signs of being "okay to good" based on US GDP growth forecasts [4] - A sharp decline in the dollar could become a tailwind for future quarters [5] Analyst Estimates and Market Expectations - Analyst estimate dispersion is wide, potentially leading to more conservative estimates [7] - Wider analyst dispersion tends to lead to bigger beats for the S&P 500 as a whole [7]