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Last week stocks made their longest weekly gain since February with the Dow closing above 40,000, a fresh new record, and the S&P 500 hitting 5,300. Strong first quarter earnings and early signs that inflation is cooling have sent stocks higher. The short lived meme stock rally also contributed to increased trading volume from retail investors.

Analysts have been raising earnings forecasts for the current quarter at an unprecedented speed, as more and more believe a soft landing is in store. A number of factors will affect how markets perform through the rest of the year, including inflation, the Fed’s monetary policy, and the election. However, if the stars align and inflation cools faster than expected, it’s possible stocks could keep making all time highs, although not without ample volatility along the way.