SPX: S&P 500 Ticks Up Mere 3 Points to Log Fifth Winning Session Ahead of Tech Earnings

Trades anticipate Magnificent Seven to shine bright and uplift the broader market as it once did. Is the AI hype still around, though?

📈 S&P 500 Logs Fifth Win

• “Three points is the best I can do,” the S&P 500 index, probably, as it inched higher by the moderate gain of 3.5 points on Monday. Still, it was the broad benchmark’s fifth consecutive winning session, a streak that suggests investors are cautiously optimistic ahead of a heavyweight week for earnings.
• The catalyst? All eyes are on the Magnificent Seven — tech’s elite squad — set to report in the next couple of days.

🧭 Positioning Over Price Action

• Despite the tiny move, the index held firm near 5,520, showing resilience after its recent bounce from April lows — the index exited a correction last week.
• And while the day lacked fireworks, it was less about price action and more about positioning. Traders are bracing for a fresh wave of quarterly results that could either confirm or dent the AI-fueled bullish narrative that’s powered much of the tech giants’ rally over the past couple of years.

🤖 Big Tech Earnings

• This week brings earnings from Meta META and Microsoft MSFT on Wednesday, followed by Amazon AMZN and Apple AAPL on Thursday. These tech behemoths carry massive weight in the S&P 500 and the Nasdaq, and their results will be more or less the rush hour of the first-quarter earnings season.
• The central theme among these tech titans will be — yes, you guessed right — artificial intelligence. The question is whether the hype has legs. The issue is whether AI spending is a bit too much. With cloud growth, ad revenues, and AI monetization strategies all in focus, even a hint of softening could quickly chill sentiment.