S&P 500 Hits New All-Time High as Earnings Season Beats Estimates

A Fresh Record

The S&P 500 closed today's session at 5,187.40 points — a new all-time high. The Nasdaq 100 also gained 0.52% to 18,234. Tech and semiconductors led the move.

A Strong Earnings Season

Through the end of last week:

• 78% of S&P 500 companies beat EPS expectations
• Year-on-year EPS growth came in at 7.1%
• Revenue grew an average of 4.2%

Big Tech remains the engine, with AI-related capex continuing to expand operating margins.

Macro Tailwinds

• Falling Treasury yields support growth equities
• Markets expect the first Fed cut in Q3
• A stable US dollar means multinationals' overseas earnings are not being eroded

Risks to Watch

• The forward P/E for the S&P 500 (~21.5x) is above the 10-year average
• Earnings concentration in the "Magnificent Seven" creates concentration risk
• Inflation prints could shift the rate-cut path

With index CFDs on Exness, traders can access the US market beyond the regular session, including extended-hours pricing.