- 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 the upcoming big-tech earnings, which will come out 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 have largely ignored the ongoing ceasefire that has pushed crude oil prices higher.
Instead, investors focused on the ongoing earnings season that saw some of the biggest companies in the US publish their numbers. Some of those that released this week were companies like Intel, Tesla, American Express, GE Electric.
The coming week will be more important as the biggest constituents in the S&P 500 Index will release their numbers. 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 their spending will be bullish for the market as AI spending is the most important part today.
However, for companies like Amazon and Microsoft, they will need to show that the large investments are paying off. Indeed, Microsoft 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 potentially meet with a team from the US.
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 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
VOO stock chart | Source: TradingView
The daily timeframe chart shows that the VOO stock price has been in a strong rally this year and is now hovering at 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 the VOO stock price is bullish, with the next key resistance to watch being the psychological level of $700.
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