Markets to Focus on Earnings as S&P500 Eyes 2000

Shaking off geopolitical flare-ups for now, analysts say the S&P 500 is taking aim at the 2,000 level, and the next round of earnings news could help.

Dozens of major companies report Wednesday ahead of the open, and an even bigger batch report Thursday. On Wednesday, Boeing, Pepsico, Norfolk Southern report ahead of the opening bell. AT&T, Facebook and Gilead report after the close. Of the 115 S&P 500 companies that reported as of Tuesday morning, 66 percent have beaten earnings per shares estimates and 64 percent beat revenue forecasts, according to Thomson Reuters.

On Tuesday, the Dow was at 17,113, up 61 points, and the Nasdaq was up 31 points at 4,456. The S&P 500 briefly rose to a new record of 1,986.27, before closing at 1,983, a nine point gain. The S&P closed above 1,900 for the first time May 23, and above 1,800 in November.

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