Here’s Why Experts Think The Stock Market Could Rip Higher As Stocks Test New Highs

Here’s Why Experts Think The Stock Market Could Rip Higher As Stocks Test New Highs

Share to Linkedin Stocks are floating near record levels Tuesday as the biggest week for quarterly tech earnings revs up, and though experts have been warning of concerning market indicators, the ongoing rush of blowout corporate earnings and historically low interest rates are among reasons the rally could push even higher. A trader works on the floor of the New York Stock Exchange. Shortly after the market open, the S&P 500 and tech-heavy Nasdaq Composite were just under their latest record highs from Monday, ticking down about 0. 1% apiece after climbing about 5% and 8%, respectively, over the past month. Heading up the S&P, UPS shares are soaring 9% after the courier shattered analyst expectations with its earnings release Tuesday morning, posting first-quarter revenue of $14 billion, soaring 27% from last year, and operating profit that nearly tripled to $2. 8 billion thanks largely to growth from small and medium-sized businesses. Among stocks leading losses, Tesla shares, which have soared a staggering 360% over the past year, are slumping 3% despite posting record first-quarter profit of $438 million Monday after the market closed“”outperforming analyst estimates but falling short of extremely bullish expectations. In a Tuesday note, LPL Financial Equity