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Analyst: US stocks approach new highs ahead of a week packed with earnings reports.
Jin10 data reported on July 21, on Monday, the U.S. stock market rose as traders prepared for a busy earnings week, with large companies such as Tesla (TSLA.O) and Alphabet (GOOG.O) set to announce their earnings this week. At the start of trading, the S&P 500 and Nasdaq reached all-time highs, as strong investor risk appetite pushed up the prices of the "Seven Giants" while the stock market hovered near record highs. Nationwide analyst Mark Hackett stated: "The S&P 500 continues to set all-time highs, but the level of calm in the market is the biggest highlight, as investors’ reactions to headlines including inflation, the Fed, trade and tariff news, and geopolitical events have weakened, with the VIX index below its long-term average." Hackett pointed out that the S&P 500 has not experienced a fluctuation of 1% or more in nearly a month. Morgan Stanley suggested that investors remain bullish on U.S. stocks, while Goldman Sachs strategists, including David Kostin, indicated that the recent weakness of the dollar has brought some favourable information to S&P 500 earnings, partially offsetting the pressure from tariffs on profits.