The S&P 500 and Dow Jones have moved sideways in the past few days and are both hovering near their all-time highs. The S&P 500 trades at 7,711 points, down from a record high of 7,820, while the Dow Jones has pulled back to 53,565 points, down from a record high of 54,753. This article looks at the top three catalysts that may move these blue-chip indices this week.
Broadcom and Oracle Earnings
The S&P 500 and Dow Jones have wavered during this earnings season, which showed that most companies continued growing in the second quarter. According to FactSet (NYSE:FDS) the average earnings growth was over 50.4%, much higher than what analysts were expecting.
Top companies in these indices like Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOG) have published strong financial results this month.
This week, focus will be on Broadcom (NASDAQ:AVGO) and Oracle (NASDAQ:ORCL), two of the biggest players in the artificial intelligence industry. Analysts expect these two companies will release strong financial results, with Broadcom’s revenue expected to come in at $29.4 billion, up by 84% YoY. Oracle’s revenue is expected to come in at $19.13 billion, up by 28% YoY.
