S&P 500 Index Forms Highly Bullish Pattern as Analysts Warn of Earnings Bubble - Vanguard S&P 500 ETF (AR

The S&P 500 Index continued rising and neared its all-time high as traders waited for the upcoming earnings season. It jumped to 7,575, a few points below the record high of 7,620.

Analysts are Warning of Earnings Bubble

The S&P 500 Index has soared by nearly 20% from its lowest level this year as focus shifted to the upcoming earnings. Analysts anticipate earnings growth continued in the second quarter.

A FactSet (NYSE:FDS) report shows that analysts expect earnings growth of 23.6%. In most cases, companies report results that exceed these expectations, helped by the technology and banking sectors.

Still, some analysts are warning about a bubble happening in the stock market. Data shows that stock market valuations are nearing the highs of the dot-com bubble.