Stocks will rise this week, if the earnings keep beating expectations
As reported by CNBC, stocks will succeed in beating the all-time high records set earlier in 2019 as many S&P 500 companies get set to report.
Both the S&P 500 and Dow Jones Industrial Average are 1% below their all-time highs. On the other hand, the Nasdaq Composite needs to gain 2% more to reach its record. The said indexes got a boost as the result of a considerable number of reporters showcased better-than-expected results. Apart from that, the improving sentiments that revolve around Brexit and the US-China deal trade negotiations gave the indexes a push as well.
About 120 companies that belong to S&P 500 index are set to release their quarterly results in the week ahead. Some of the said companies include Caterpillar, Boeing, Amazon, Intel, McDonald’s and Chipotle Mexican Grill.
“You’ve got the potential for a combination of things that drive us to new highs. At the same time, you’re getting better micro data in the earnings, you’re getting better news on the macro hurdles facing us,” Art Hogan, chief market strategist at National Securities, stated.
(Image source: Brendan McDermid | Reuters)