The Vanguard S&P 500 ETF hit an all-time high of 577.18, with a 0.2% increase in premarket trading. Financial stocks such as Charles Shwab, American Express, Regions Financial, and Huntington Bancshares announced earnings that exceeded expectations. 3M also reported profits above projections. Netflix contributed to the momentum with profits significantly higher than anticipated. Overall, the strong earnings reports from various S&P 500 component companies are propelling the ETF’s gains and influencing market positivity.
The Vanguard S&P 500 ETF closed at a new all-time high Thursday, 577.18, and seems to be aiming for a repeat Friday, rising 0.2% in premarket trading.
Charles Shwab reported $1.14 per share in its Q2 report, a nickel better than expected, and revenues beat expectations as well.
American Express earned $4.08 per share, $0.21 more than analysts predicted, and revenues were stronger than expected.
Netflix had a huge $7.19 per share profit that was $0.12 better than anticipated, enhancing market momentum.
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