Analysts are raising their earnings estimates for the S&P 500, contributing to the index’s upward trajectory. The technology sector, particularly companies classified within the “Magnificent Seven,” continues to lead the market, buoyed by their involvement in the artificial intelligence (AI) industry.
Key reports from Microsoft and other prominent tech companies are scheduled for mid-to-late July, while NVIDIA and semiconductor stocks will follow in August. These reports could propel the index to new highs and sustain a rally through the summer and beyond the technical target of 6,100, with Wedbush’s more optimistic target around 6,250.
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