S&P500 and Nasdaq 100: Indices Hit Records—Can Bulls Hold Into the Close?

S&P 500 and Nasdaq Push to New Records: Can Bulls Maintain Control Through Day’s End?

Markets are extending their bullish momentum mid-session Monday, with both the S&P 500 and Nasdaq Composite breaking through to fresh record territories.

The benchmark index is currently trading 34.97 points (0.56%) higher at 6,331.90, while the tech-heavy Nasdaq is up 147.24 points (0.71%) at 21,042.87 as of 15:21 GMT. The Dow Jones Industrial Average is contributing to the broad-based rally, climbing 201.87 points (0.46%) to 44,544.76, now sitting just 1.28% below its all-time peak.

Market internals are painting a decidedly bullish picture, with advancing issues currently outpacing decliners by a robust 3.02-to-1 ratio on the NYSE and 2.58-to-1 on the Nasdaq.

The S&P 500 is showing 15 new 52-week highs against just 5 new lows, while the Nasdaq is recording an impressive 73 new highs versus 34 new lows at this hour.

Magnificent Seven Earnings Loom: Are Tesla and Alphabet Poised for Afternoon Moves?

Technology megacaps are leading today’s charge, driving the S&P 500’s information technology sector up 0.6% to hit an all-time high mid-session.

Traders are positioning ahead of this week’s “Magnificent Seven” earnings season opener, with Google-parent Alphabet and Tesla taking center stage. Alphabet shares are currently up 2.1% while Tesla is trading down 0.2% in afternoon action.

Both stocks are entering earnings season carrying the burden of underperformance within their elite peer group, with Tesla down 18.5% year-to-date and Alphabet slipping 0.2%.

Mike Dickson from Horizon Investments captures the market’s sentiment: “We’re going to need these earnings reports to just really knock it out of the park if we want to see this little leg of the rally continue.”

Trump Tariff Deadline Approaches: Are Markets Pricing in Trade Deal Optimism?

Despite President Trump’s looming August 1 tariff deadline, equity markets are continuing their upward trajectory as traders weigh the potential for trade negotiations.

Trump’s aggressive tariff framework includes proposed 30% levies on Mexico and EU imports, alongside blanket rates of 20-50% targeting Canada, Japan, Brazil, and other trading partners.

Markets are finding support from Commerce Secretary Howard Lutnick’s weekend comments expressing confidence about securing an EU trade agreement.

However, EU diplomats are tempering expectations, indicating the 27-member bloc is preparing comprehensive counter-measures as prospects for a breakthrough deal appear to be diminishing.

Federal Reserve Chair Powell Speaks Tomorrow: Will 56% September Rate Cut Odds Shift?

Attention is turning to Federal Reserve Chair Jerome Powell’s scheduled Tuesday appearance for potential monetary policy signals, particularly following last week’s mixed inflation data.

Current market pricing has effectively eliminated any July rate cut probability, with CME Group’s FedWatch tool indicating 56% odds for a September reduction.

This week brings critical economic releases including Thursday’s jobless claims and July business activity data.

Adding sector rotation strength, Verizon is surging 4.1% after raising its annual profit outlook, propelling the communications sector to lead all major groups in afternoon trading.

The intersection of earnings season expectations, trade policy developments, and Federal Reserve guidance continues shaping market sentiment as the session progresses.

More Information in our Economic Calendar.