The S&P 500 is set to break above 8,000 before the midterm elections. A growing view holds that strong earnings from major companies are supporting the market.
The S&P 500 has hit new record highs since the end of July and now appears close to reaching 8,000 points. Strong corporate earnings are seen as the backdrop, with momentum emerging in the market, particularly among technology stocks.
In response to this move, market participants have pointed to the possibility that the trend will continue until the midterm elections, which will mark an important juncture.