Record Highs on Wall Street: Steady Gains Amid Tariff Tensions

The S&P 500 and Nasdaq reached record highs, bolstered by Alphabet and tech shares amid earnings reports. Despite looming tariffs from the Trump administration, markets remain optimistic. Investors await Federal Reserve signals on interest rates while watching for potential trade deals with the European Union.

The S&P 500 and the Nasdaq reached record highs on Monday, propelled by Alphabet and other leading tech companies, as investors anticipate several key earnings reports this week. Markets remain optimistic of potential trade deals mitigating the economic impact of tariffs from the Trump administration.

Alphabet surged over 2% in anticipation of its quarterly report, while Tesla and other tech giants prepare to release their earnings. Meanwhile, Apple and Amazon each saw modest gains, and Verizon saw a significant 5% jump after upgrading its annual profit forecast.

Analysts predict a significant 6.7% rise in S&P 500 company earnings for the second quarter, with Big Tech at the forefront of this growth. Investors will closely monitor Federal Reserve Chair Jerome Powell's upcoming speech for clues on interest rate cuts, with speculation around the September meeting growing stronger.

(With inputs from agencies.)