S&P 500, Nasdaq reach record closing highs as focus pivots to earnings
SPY•The S&P 500 rose 0.58% and the Nasdaq gained 0.45%, both closing at record highs, while the Dow advanced 0.49%. Investors turned their attention to third-quarter earnings season, which begins next week.
1. Indexes close at records
U.S. stocks ended higher Tuesday as crude prices steadied and Treasury yields eased. The S&P 500 added 45.00 points to 7,818.95, and the Nasdaq rose 122.48 points to 27,599.79; the Dow gained 253.14 points to 51,521.04.
2. Earnings season approaches
Third-quarter earnings season begins next week, with several high-profile financial firms expected to report next Tuesday. Analysts expect S&P 500 earnings to grow 30.6% year over year for July through September, including projected growth of 114.7% in energy and 66.5% in technology.
3. Company movers
Marvell Technology gained 5.8% after raising its 2028 revenue forecast on strong demand for data center chips. AMD rose 2.8% after CEO Lisa Su said the company plans to substantially increase chip supply in 2027 to meet AI demand. Constellation Energy jumped 12.3% after Alphabet entered a 3,590-megawatt power deal with the company.
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