The S&P 500 and Nasdaq 100 extended their upward streak on Monday, both logging a robust eight consecutive sessions in positive territory as traders maintain optimism about the U.S. economic outlook and improving financial conditions ahead of the Federal Reserve’s anticipated rate-cut cycle.
For the S&P 500, this marks its longest winning streak since May 2024, while the tech-heavy Nasdaq 100 hasn’t seen such a run since October 2023.
The S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), closed Monday’s session up 0.95%, bringing it within just 1% of its all-time high reached in mid-July. Nearly 95% of S&P 500 companies have reported second-quarter results. FactSet data shows that 79% of these firms have exceeded earnings-per-share (EPS) expectations, and 60% have posted higher-than-expected revenue. The ...
