S&P 500 Reached News Highs Before Peak Earnings Week – US Market Wrap

Wall Street ended the week on a high note, with equities reaching new all-time highs on strong results and prospects for US trade negotiations. Following an uneventful meeting between Trump and Fed Chair Powell, the bond market barely moved. The dollar rose.

In the run-up to the busiest week for corporate earnings, the S&P 500 gained for the fifth straight day, approaching 6,400. While the stock advance has raised valuation worries amid a rush to the riskiest parts of the market and a resurgence of the meme-stock mania, numerous traders find it difficult to bet against the trend right now.

Progress in trade negotiations, solid economic data, and company resiliency have all helped to alleviate concerns about stock overheating. More than 80% of S&P 500 corporations have exceeded profit projections. That is on course to be the highest percentage of beats since the second quarter of 2021.

The Fed’s rate decision, the most recent jobs report, and a deadline for US trade agreements will all be released next week. In an effort to finalise a trade agreement before the deadline of August 1st, European Commission President von der Leyen said that she will visit Scotland this weekend to meet with Trump.