A 25bp

S&P Tops 7,800 for First Time: Is Focus Turning to Earnings?

The S&P 500 gained 0.58% Tuesday to 7,818.93, its first close above 7,800 and a record; the Nasdaq Composite added 0.45% to 27,599.89, also a record, and QQQ rose 0.46% to $759.66. With oil steady and the 10-year Treasury yield easing, focus is shifting to the coming Q3 earnings season: Bulls say guidance from tech leaders and order delivery in memory, optical communications and power supply all getting repriced, bears say the highs rest on a few mega-caps and the Dow gained just 0.49%. With the S&P above 7,800, are you chasing the index here, or waiting for earnings season to prove it?

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