Heavyweight stock index gained 0.8% to start the week as impatient traders scooped shares up ahead of a busy time of earnings.
The S&P 500 (SPX) logged a new record on Monday, adding 0.8% to close at 4,927 points after investors pumped stocks across the board ahead of a busy week. It’s the Super Bowl of the earnings season and five of the dazzling, glorious, Magnificent Seven is in the locker room, going through pre-game financial statements and some forward-looking pep talk.
Around 100 companies from the S&P 500 are on deck to report quarterly figures this week. The spotlight will be on Google parent Alphabet GOOGL and Microsoft MSFT, recently crowned as the most expensive company in the world. Both check in today after the closing bell.
The other big names – Amazon AMZN, Meta META, and Apple AAPL are on tap for after-market Thursday. By the end of the week, nearly half of all 500 companies in the broad-based index will have reported quarterly performance.