The markets closed out the second quarter on a high note, despite unprecedented levels of uncertainty and geopolitical risk. The market’s resilience can be attributed to five key areas where investors hold an optimistic outlook: strong economic data, pro-growth policies, moderate tariffs, continued earnings growth, and advancements in artificial intelligence.

The S&P 500 hit a post “liberation day” high on June 12th, before news of Israeli strikes on Iran’s nuclear facilities and senior military personnel caused the market to trade lower. In addition to the human impact of these conflicts, markets remain sensitive to the influence on energy prices. As of this writing it doesn’t appear that Iran’s oil infrastructure has been specifically targeted, but the price of Brent Crude Oil contracts spiked 8% to close Friday at $75 per barrel, higher but below the highs of earlier this year.