The S&P 500 Index surged to a record high last week, extending a powerful bull run that began in March, when the index bottomed at 6,313. It has since climbed more than 23% from its year-to-date low, reflecting strong investor optimism. However, the rally faces several key tests this week, with a series of major economic events and corporate developments likely to drive market volatility.
S&P 500 Index to React to Some Minor Corporate Earnings
Most companies in the S&P 500 Index have already publish their financial results in the past few weeks. According to FactSet (NYSE:FDS), 88% of all companies in the index have already released their numbers. The blended earnings growth stands at 50.4%, its highest level since the second quarter of 2021.
The most important companies that move the S&P 500 Index have already published their earnings. This includes the big banks and Magnificent 7 firms. The top companies to watch this week will be firms like Simon Property Group, Fergusson Enterprises, Rocket Lab, ASR SpaceMobile, Lumentum, and Cardinal Health.
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