The S&P 500 sits at 7,473.47, up roughly 0.37% on the session, as an unusually strong earnings season provides underlying support. Every company in the S&P 500 that has reported so far has beaten analyst expectations, with 79% posting year-over-year earnings growth. That combination — index gains plus broad profit expansion — points to fundamentals driving the move rather than speculation alone.
When nearly 8 in 10 companies are growing earnings and every reporter is beating estimates, that's a genuine tailwind for equity prices — not just sentiment. Broad-based earnings growth supports valuations across sectors, reducing the risk that the rally is concentrated in a handful of names. Investors holding diversified equity funds like SPY or VOO are seeing those gains backed by real corporate performance.
Watch for continued earnings releases from major S&P 500 components in the coming weeks. The next Federal Reserve rate decision and any upcoming CPI inflation report will be critical for determining whether this rally has room to run.
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