SPY at $742 as Earnings Season Peaks: What Market Internals Are Saying
SPY, the S&P 500 ETF, slipped to $742.09 Monday, off 0.16% from Friday's close, before finding tentative footing near the 7,460 level on the index. The partial recovery came as geopolitical tensions with Iran eased slightly after a weekend of escalation that had sent WTI crude up 14% over the prior week to around $82.56. Key takeaways SPY fell to $742.09 (-0.16%) Monday, with eight of eleven S&P 500 sectors declining as the index held near 7,460. Q2 S&P 500 earnings growth estimates now stand at 24.7%, per FactSet, with early reporters printing 52% EPS growth against an initial 23.6% consensus. The Nasdaq-100 broke below its 50-day moving average last week; the SOX semiconductor index entere…
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