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The S&P has closed at 2933.68 after the end of yesterday’s trading session, which is a record-breaking performance for the major US index. Even though the price has spiked above the level mentioned above in the past, most notably in last October, it has always corrected itself below that level, so yesterday’s performance is unique in that it managed to sustain the intraday’s gains.
The sharp price movement is owing to the robust earnings performance of some of the major companies that comprise the index, as you are about to see more detailed analysis below, chiefly the Coca-Cola Company; Twitter and Lockheed Martin Corporation.
The S&P 500 is a float-adjusted weighted index based on the market capitalization size of the companies listed in the index, meaning that the companies with the biggest share of market-cap also have the most significant impact on the price setting of the overall index. For that reason, Coca-Cola and Lockheed Martin’s strong performance on their earnings reports yesterday has led to the definite price upswing of the index with 0.88%. According to their market capitalization, the two companies currently rank respectively 28th and 71st on the index’s listings of 505 companies. This can only testify to the expected rise in the market volatility after the release of the earnings of Microsoft; Amazon; Facebook; Exxon Mobil; Visa; Intel and Boeing, which are listed respectively – 1st; 3d; 4th; 10th; 11th; 14th and 24th on the rankings of the index, and are all set to report this week.
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