The S&P 500 closed at another new high as strong earnings growth from some of the largest components propelled the rally in the final session of the month.

Caterpillar (CAT) and Alphabet (GOOG/L) both went up by 10% and used to mean very different things in the past, but now are the same trade.

Alphabet is now a few percentage points from overtaking Nvidia (NVDA) as the world's most valuable company.

SanDisk Corporation (SNDK) reported monster results with the company making more profit in one quarter than it made across the prior three years combined.

Today’s Session

Futures are mostly moving higher ahead of the open as investors react to the latest round of earnings. Notably, oil is edging lower on reports that Iran has delivered a response to the latest U.S. amendments to the deal.