Optimism in the company's results leads the S&P and Dow Jones indices to new highs – Al Borsa

Earnings season continues to provide momentum for Wall Street. Major North American indices ended the first session of the week in positive territory, extending the gains recorded last Friday, when some US banking giants opened the quarterly accounting season strongly.

No major economic data is expected this week in the US, so the 41 North American giants reporting results for the past three months should weigh on market sentiment. Right now, investors seem to be betting more on the technology sector as a form of security.

This Tuesday, it's Netflix, Bank of America and Citi's turn to report their latest quarter. In fact, analysts consulted by Bloomberg hope that the upcoming results will continue the wave of optimism we have seen.

Last week's results (and this week's expected positive numbers) led the index The S&P index advanced 0.77% to 5,859.85 points – a new all-time closing high. During the session, the index also recorded a new record of 5,871.41 points.

The Dow Jones Index also reached new records, reaching 43,000 points for the first time. In the middle of the session, it reached 43,139 points and ended the day up by 0.47% 43,065.22 points. The Nasdaq Composite Index rose 0.87% to 18,502.69 points.

Among the major market movers, technology stocks continued to lead gains, especially those related to semiconductors. Nvidia recorded gains of approximately 2.5%, along with its counterpart Arm Holdings, which rose more than 6%, and Qualcomm, which advanced 4.7%.

Among the “Great Seven”, Apple, Microsoft, Alphabet and Tesla also rose, with their shares rising 1.7%, 0.7%, 1.1% and 0.6%, respectively.

It was companies like Caterpillar that held back the S&P 500's biggest gains, which fell nearly 2%, after investment houses revised their stock price targets downward. Boeing also ended the day down 1.34%, after the aircraft manufacturer announced the layoff of 17,000 workers, as a result of a decline in its fourth-quarter accounts, initially submitted last Friday.

According to data compiled by LSEG, and cited by Reuters, S&P's third-quarter earnings are expected to rise by 4.9% compared to results for the same period last year.