The market is back on the rise and the S&P 500 is only 4.6% away from hitting its January high of 2,873.

"We've seen the market be pretty accommodative to some of the new money that's come into it," said Matthew Cheslock, an equity trader with Virtu Financial based on the floor of the New York Stock Exchangel. "[Investors] found a home not only in technology, but energy and financials and those are some really big components of the S&P 500 and the Dow so that's why seeing this market react accordingly."

 

For exclusive investing insight from Jim Cramer, get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

More from Video

Market Movers: Tech Earnings

Market Movers: Tech Earnings

Vincent Viola: We're in a Post-Peak Demand Period for Oil

Vincent Viola: We're in a Post-Peak Demand Period for Oil

Are We Looking at a Fourth Industrial Revolution? Jim Cramer Breaks It Down

Are We Looking at a Fourth Industrial Revolution? Jim Cramer Breaks It Down

Binge This: Why Jim Cramer Watches Netflix Stock

Binge This: Why Jim Cramer Watches Netflix Stock

What the Fed Needs Is a Millennial, Jim Cramer Says

What the Fed Needs Is a Millennial, Jim Cramer Says