- VOO stock price has soared to a record high this week despite the soaring crude oil prices.
- Hundreds of companies, including Tesla and Intel published their results.
- The focus now shifts to the upcoming big-tech earnings next week.
The VOO stock price is hovering near its all-time high today as investors focus on upcoming big-tech earnings, which will be released next week. The fund, which tracks the S&P 500 Index, was trading at $651, a few points below the record high of $655.
VOO Stock Jumps Amid ETF Inflows
The Vanguard S&P 500 ETF has rallied this week as investors largely ignored the ongoing ceasefire, which has pushed crude oil prices higher.
Instead, investors focused on the ongoing earnings season, which saw some of the biggest companies in the US publish their results. Some of those that released this week included Intel, Tesla, American Express, and GE Electric.
The coming week will be more important, as the largest constituents of the S&P 500 Index will release their results. Google, Microsoft, and Amazon will publish on Wednesday, while Apple and Eli Lilly will release on Thursday. Combined, these companies have a market connection of over $10 trillion.
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These results will be important as they will provide an update on their AI investment plans for the year. A sign that they are boosting spending will be bullish for the market, as AI spending is the most important part of the market today.
However, companies like Amazon and Microsoft will need to show that their large investments are paying off. Indeed, Microsoft’s stock crashed in the last quarterly report after the management hinted that it would spend over $100 billion in capital expenditure this year.
The VOO stock will also react to the potential talks between the US and Iran. Iran has confirmed that Foreign Minister Abbas Aragchi will travel to Pakistan and may meet with a US team.
American investors are still pumping cash into the VOO ETF. Data shows that it now has over $913 billion in assets, up from $595 billion 12 months ago. If this trend continues, the fund will get to $1 trillion in assets by August. The iShares S&P 500 ETF (IVV) has also been adding assets, while the more expensive SPY has shed billions this year.
VOO ETF Stock Price Analysis
The daily timeframe chart shows that VOO stock has been in a strong rally this year and is now hovering near its all-time high. It recently crossed the important resistance level at $640, its highest point in January and February. Soaring above that level has invalidated the double-top pattern.
The stock remains above all moving averages, while the top oscillators have continued rising. Therefore, the most likely outlook for VOO is bullish, with the next key resistance to watch at the psychological $700 level.
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