From tweets to tech to trade wars, investors have had multiple reasons to bail out of stocks this year. Instead, the S&P 500 is just another nudge away from setting a fresh all-time high.
Rather than get shaken by scary headlines, the market has maintained a laser-like focus on fundamentals. A growing economy, record-setting corporate earnings and friendly atmosphere in the White House and the halls of Congress are feeding expectations that the second-longest bull market in history still has legs.
"Right now I have a lot of things that scare the heck out of me. But you have to be careful not to see ghosts from the closet," said Doug Roberts, chief investment strategist at Channel Capital Research. "That's not to say things can't change quickly. You have to be cautious."
Indeed, most market sentiment measures reflect that trepidation. Investors have been cautious about U.S. stocks in particular and continue to shovel money into bonds, despite rising yields that are denting returns for fixed income funds. Fewer than 1 in 3 retail investors think stocks will rise over the next six months, according to the latest American Association of Individual Investors survey.
Yet four factors have combined to continue pushing the market higher. The S&P 500 is up about 6.9 percent year to date, just about 14 points away from its all-time closing high, as of Tuesday's close.