Last week the S&P 500 Index maintained its rally, reaching a new high of $5.958, which is its highest level since March 3. The S&P 500 Index has increased by more than 23% since its low point in April. This means that the index is now in a strong bull market.
After the meeting in Switzerland between China and the US last week, the trade risk has eased. The two countries agreed to reduce their respective tariffs by 30% and 10% and promised to continue to take further action.
Signs indicate that the US is working on agreements with countries such as the European Union (EU), Canada and Mexico. These deals are expected to improve the outlook for most S&P 500 Index Companies.
Index also rose as earnings season brought in the results. FactSet shows that 92% have already published their earnings. The combined earnings of these companies were 13.6% higher than expected and was the second quarter in a row that earnings grew.
Watch out for these S&P 500 stocks next week
Next week, many companies included in the S&P 500 Index are expected to release their financial reports. Home Depot, Lowe’s and Target are some of the more notable retailers. Palo Alto Networks will also be worth watching, as well as Autodesk. Intuit. Analog Devices. Ralph Lauren. TJX. and V. F. Corp.
US Retailers shed Light on Tariff Impact
Next week, the biggest US retailers are expected to publish their results and reveal how Donald Trump’s new tariffs have affected their business.
Walmart, America’s largest retailer, has just published strong numbers and hinted at what is to come. Sales jumped from $161.5 to $165.6 Billion. Its e-commerce revenue grew by 22 percent.
Walmart said it would also increase its prices once the tariff impact becomes clear. Trump said in a statement on Truth Social that the company should not raise prices but rather ‘eat up’ tariffs.
Target is a retailer that you should keep an eye on, as it has been struggling in recent years. Analysts expect that Target’s sales will have dropped 0.24%, to $24.1 billion. Its earnings per share would also be down from $2.03 towards $1.69.
Analysts expect Home Depot to have revenues of $39.27 Billion, an increase of 7.8% annually. Lowe’s revenues are expected to drop by 1.69 % from the previous year, falling to $21 billion.
Palo Alto Networks (PAN), Intuit and Autodesk are all software companies
Next week, retailers and large software companies from the S&P 500 Index are expected to publish their earnings.
Palo Alto Networks will report first on Monday. It is one of the largest cybersecurity companies in America. The stock of Palo Alto Networks has increased by more than 33% since its low point in the year. It is now at its highest level since March.
Analysts anticipate that the results will show Palo Alto Networks revenues increased by 14.8% to $2.28 Billion in the third quarter. Analysts expect the guidance for currency financial year to be $9.18 Billion, an increase of 14.3% on an annualized basis.
Click here to read more about Palo Alto Networks.
The Intuit share price is also up by more than 26% since its low point of this year. It’s now at its highest level in several months. On Thursday, the company that produces the largest accounting software on the planet will release its results. Analysts anticipate that the company’s revenue will have increased by 12.2%, to $7.56 Billion.
Next week, the top S&P 500 companies to keep an eye on are Autodesk (Analog Devices), Snowflake (Urban Outfitters), Ralph Lauren (Williams-Sonoma), BJ’s Wholesale, Williams-Sonoma and Analog Devices.
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