The S&P 500 hit a new record high on Friday, soaring to its highest level since February as investors cheered a host of bullish catalysts.

In all, the S&P 500 has soared more than 20% since an April low in the wake of President Donald Trump's "Liberation Day" tariff announcement. Over that period, the tech-heavy Nasdaq has climbed 28%, while the Dow Jones Industrial Average has jumped 12%.

On April 8, when stocks were on the verge of plunging into a bear market, few Wall Street experts were predicting that the market would hit a record high just 80 days later.