Hello traders everywhere. For the first time this year, the S&P 500 posted its fifth straight weekly gain as traders shrugged off worries about the trade war between the U.S. and China. Strong corporate earnings have helped to push the index near its all-time of $2,872.87. Berkshire Hathaway and Tyson Foods are helping to propel the S&P 500 higher after a weak opening. Berkshire Hathaway Inc (NYSE:BRK.B) rose +3.7% after reporting a +67% surge in quarterly operating profit while Tyson Foods Inc. (NYSE:TSN) gained +3.8% after the meat processor beat analysts' quarterly profit estimates due to strong demand for beef. Of the 413 S&P 500 companies that have reported earnings so far, 79.2% have topped earnings estimates. That is well above the average of 72% for the past four quarters. Facebook Inc. (NASDAQ:FB) and PepsiCo Inc. (NASDAQ:PEP) have led the NASDAQ into positive territory after opening lower on the day. Facebook gained +3.7% after the Wall Street Journal reported the company had asked large U.S. banks to share detailed financial information about their customers, as part of an effort to offer new services to users. PepsiCo rose +1.5% after the company said Ramon Laguarta, a company veteran with experience in international markets, would succeed Indra Nooyi as the chief executive officer. Key Events Coming Up This Week: Earnings season includes results from Japan Post Bank, Disney, 21st Century Fox, Deutsche Telekom, China Mobile, Glencore and Adidas. Tuesday brings the latest Reserve Bank of Australia meeting that is forecast to produce no change in either the record-low cash rate or the long-term guidance. The Bank of Japan releases a summary of opinions Wednesday from its July 30-31 meeting, at which it tweaked elements of its stimulus policy to make it more sustainable. Samsung Electronics unveils its next Galaxy Note smartphone. U.S. consumer prices probably rose in July, consistent with a pickup in inflation that's projected to keep the Federal Reserve on a path of gradual interest-rate increases, economists forecast before Friday's release. Key Levels To Watch Next Week: S&P 500 (CME:SP500): 2,789.24 Dow (INDEX:DJI): 24,979.64 NASDAQ (NASDAQ:COMP): 7,933.31 Gold (NYMEX:GC.Z18.E): 1,228.50 Crude Oil (NYMEX:CL.U18.E): 67.87 U.S. Dollar (NYBOT:DX.M18.E): 93.87 Bitcoin (CME:BRTI): 6,333.69 – 9,925.55
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