S&P 500 E-Mini Futures Move Higher on Upbeat Earnings

S&P 500 e-mini futures are trading higher today on the back of the strong corporate earnings. The asset is now well-positioned to attack the record high of 3029.50.

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Since last week, powerful corporate earnings have provided support to the stock market. For instance, Procter & Gamble Co surged more than 4% after raising full-year forecasts and beating market estimates. Furthermore, United Technologies Corp gained 1.6% on a forecast raise while surged as much as 40% after the company announced an optimistic plan to file for U.S. regulatory approval for its Alzheimer’s treatment.

Out of around 75 S&P 500 companies reporting results by Monday, over 80% had topped Street estimates

The July’s high, which is also the all-time high for the S&P E-Mini Futures, is the major target for the bulls now. The slightly descending trend line, connecting most recent swing highs above the 3000.00 handle.Download our latest quarterly market outlook for our longer-term trade ideas.

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