Nasdaq 100: Meta, Apple Rally Lifts Tech Stocks and Boosts US Indices

Nasdaq Hits Record as Traders Bet on Strong Earnings from Tech Giants

U.S. equities kicked off the week with gains, fueled by confidence in second-quarter earnings from top tech names.

The Nasdaq Composite advanced 0.7% to a new all-time intraday high, while the S&P 500 climbed 0.6%, supported by strength in large-cap tech stocks.

The Dow Jones added 244 points, also up 0.6%, as traders shrugged off tariff-related headlines and focused on earnings growth.

Are Tech Stocks Like Alphabet and Apple Driving the Nasdaq Surge?

Tech giants led the charge, with Meta Platforms and Apple both gaining over 1%. Alphabet rose more than 2% ahead of its earnings report due Wednesday, helping buoy sentiment across the Nasdaq.

Qualcomm, Broadcom, and NXP Semiconductors also posted strong gains, each rising around 2%.

Palo Alto Networks and AppLovin added over 2% as well.

Traders are positioning ahead of key results from the “Magnificent Seven,” with analysts expecting them to post 14% earnings growth compared to just 3.4% for the rest of the S&P 500, according to FactSet.

How Are Broader S&P 500 Sectors Reacting to Earnings Optimism?

Communication services led sector gains, rising 1.91%, followed by materials at 1.27% and consumer discretionary at 0.84%.

Technology stocks added 0.58%, in line with broader Nasdaq strength.

Defensive sectors underperformed: energy dipped 0.53%, while health care fell 0.14%.

The sector rotation suggests traders are favoring growth names over defensive plays as confidence in the earnings cycle builds.

Which Stocks Made the Biggest Moves on the Day?

Verizon jumped over 5% after topping second-quarter estimates, boosting sentiment that more upside surprises could follow.

Arm Holdings soared 4.4%, while Ross Stores and Alphabet also landed among the top Nasdaq performers.

On the downside, Biogen and Lululemon dropped more than 2%, as traders rotated out of health and consumer names.

Tesla, the first of the high-profile tech names set to report, remains a key name to watch this week.

What’s the Market Outlook as Earnings Season Picks Up Steam?

With over 85% of early S&P 500 reports exceeding expectations and Q2 earnings tracking 5% year-over-year growth, momentum favors continued upside—especially if megacaps deliver.

While tariff concerns linger, traders appear unfazed for now. Analysts like CFRA’s Sam Stovall suggest the S&P 500 could climb another 5% from current levels before facing resistance.

Traders should monitor Tesla and Alphabet’s reports this week, as results could set the tone for the next leg in the market.

More Information in our Economic Calendar.