The S&P 500 Index continued its strong rally last week, rising to a high of $5,958, its highest point since March 3. It has jumped by over 23% from its lowest point in April, meaning that it is in a bull market.
The index jumped as the recent trade risks eased after last week’s meeting between the US and China in Switzerland. They agreed to lower their tariffs to 30% and 10%, respectively, and pledged to do more going forward.
There are signs that the US will reach agreements with other countries, including the European Union, Canada, and Mexico. Such deals will improve the outlook of most S&P 500 Index companies.
The index also jumped as the earnings season delivered. FactSet data show that 92% of all companies in the index have published their results so far. Of these companies, their blended earnings growth was 13.6%, higher than expectations and the second consecutive quarter of earnings growth.
Top S&P 500 stocks to watch next week
Many companies in the S&P 500 Index will publish their financial results next week. Some of the most notable ones are retailers like Home Depot, Lowe’s, and Target. Other firms to watch will be Palo Alto Networks, Autodesk, Intuit, Analog Devices, Ralph Lauren, TJX, and V. F Corp.
US retailers to shed light on tariff impact
The biggest US retailers will publish their earnings next week and shed light on the impact of Donald Trump’s tariffs on their operations.
These numbers will come after Walmart, the biggest US retailer, published strong results and hinted of what to come. Its sales jumped to $165.6 billion from the $161.5 billion it made last year. Most importantly, it e-commerce sales jumped by 22%.
Walmart also said that it will increase prices as the impact of tariffs become clear. In a statemet on Truth Social, Trump asked the company not to hike prices, but instead ‘eat’ the tariffs.
Target will be a top retailer to watch as its business has struggled in the past few years. Analysts anticipate the numbers to show that sales dropped by 0.24% to $24.1 billion, while its earnings per share moved from $2.03 to $1.69.
Meanwhile, analysts expect Home Depot’s revenues to be $39.27 billion, a 7.8% annual increase. Lowe’s revenue is expected to be $21 billion, down by 1.69% from last year.
Software companies: Palo Alto Networks, Intuit, and Autodesk
In addition to retailers, some large software companies in the S&P 500 Index will publish their results next week.
Palo Alto Networks, one of the biggest cybersecurity companies in the US, will be the first to report on Monday. Its stock has jumped by over 33% from its lowest point this year, and is hovering at its highest point since March.
Analysts expect the data to reveal that Palo Alto Networks’ revenues rose by 14.8% in the last quarter to $2.28 billion. The guidance for the currency financial year will be $9.18 billion, a 14.3% annualized increase.
Read more: Is Palo Alto Networks a good cybersecurity stock for 2025?
Intuit stock price has also jumped by over 26% from its lowest point this year, and is now hovering at its highest point in months. The company, which runs the biggest accounting software in the world, will publish its numbers on Thursday. Analysts expect the numbers to show that its revenue rose by 12.2% to $7.56 billion.
The other top S&P 500 stocks to watch next week will be Autodesk, Analog Devices, Snowflake, Urban Outfitters, Ralph Lauren, Williams-Sonoma, and BJ’s Wholesale.
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