Nasdaq Index: Bullish Sentiment Builds Today as Forecast Focuses on Alphabet and Tesla
Can Big Tech Results Power the Next Leg of the Rally?
Expectations are high as Alphabet and Tesla prepare to report earnings, marking the first of the Magnificent Seven to release results. FactSet projects the group will deliver 14% second-quarter earnings growth, compared to just 3.4% for the rest of the S&P 500. So far, 85% of S&P 500 companies reporting have beaten estimates, with overall earnings on track for 5% year-over-year growth, according to Bank of America.
The S&P 500 and Nasdaq closed last week at all-time highs, gaining 0.6% and 1.5% respectively. The Dow underperformed slightly, finishing down for the week. Traders remain focused on whether megacap strength can sustain index momentum without significant disappointments.
Crypto Moves Higher Following U.S. Stablecoin Law
Ether rose over 1% to $3,821.75—its highest level since December—after President Trump signed the first U.S. crypto legislation.
ETFs tracking ETH logged a record $2.18 billion in weekly inflows.
Crypto-linked stocks responded sharply: Bitmine Immersion Technologies and Bit Digital gained more than 2%, while SharpLink Gaming surged 9%. Dynamix Corporation, which is merging to form The Ether Machine, soared 30% as it debuted on Monday.