The S&P 500 and the Nasdaq notched record high closes on Monday, lifted by Alphabet and other megacaps ahead of several earnings reports this week, while investors bet on potential trade deals to blunt economic damage from the Trump administration’s global tariffs.
Google-parent Alphabet rallied ahead of its quarterly report on Wednesday. It and Tesla, also reporting on Wednesday, kick off earnings from the so-called “Magnificent Seven,” and their results may set the tone for other heavyweight companies reporting in the next several days.
Apple and Amazon each gained and helped lift the S&P 500.
Verizon rallied after the telecommunications company boosted its annual profit forecast.
Analysts on average expected S&P 500 companies to report a 6.7% increase in earnings for the second quarter, with Big Tech driving much of that gain, according to LSEG I/B/E/S.
“So far, companies that have reported have, in general, met or beat…
