Historic stock rally faces key test
The S&P 500 has experienced a significant rally of nearly 20% over the past nine weeks, raising expectations among investors. The upcoming earnings reports from Broadcom and Crowdstrike are anticipated to influence the market's direction. Broadcom, valued at over $2 trillion, has outperformed many of its peers, with a remarkable year-to-date increase of nearly 40%.
- ▪The S&P 500 has rallied nearly 20% in the last nine weeks.
- ▪Broadcom is now valued at more than $2 trillion and has increased nearly 40% year-to-date.
- ▪Traders expect an 8% swing in Broadcom's stock after its earnings report.
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The S&P 500 has rallied nearly 20% in the last nine weeks, an historic surge that has made even the most bullish investors blush. And while its nine-day winning streak appears at risk, two key tech companies reporting earnings after the bell could determine the next move higher or lower: Broadcom, the chipmaking giant that doubles as a software provider, and Crowdstrike, a cybersecurity leader that's helping lift cloud stocks out of a bear market.At more than $2 trillion, Broadcom is now bigger than two of the "Magnificent Seven" stocks and is up just shy of 40% year-to-date, far outperforming any of its mega-cap peers in the top 10 stocks of the S&P 500.
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