Overview
- Stocks edged to fresh record closes Monday in the S&P 500 and Nasdaq as the Strait of Hormuz stayed restricted and Brent crude climbed near $108 a barrel.
- Five of the “Magnificent Seven” — Alphabet, Amazon, Meta, Microsoft on Wednesday and Apple on Thursday — report results this week that will show how AI spending is tracking and whether guidance can support recent gains.
- The Federal Reserve begins a two-day meeting Tuesday that is widely expected to leave rates unchanged, with Jerome Powell set to hold what appears to be his final press conference as chair.
- Nvidia rose to a new high and reclaimed a market value above $5 trillion, and prediction-market traders price roughly a 92% chance it is the largest company by June 30.
- Market risk is concentrated as the Magnificent Seven now make up about 33.7% of the S&P 500, and hyperscalers’ AI data center plans point to roughly $649 billion in 2026 capital spending, raising return-on-investment questions for index investors.