A strategist on The Markets segment believes the S&P 500 could break above 8,000 in the near term, driven by strong technical momentum and robust earnings. The index currently sits in the mid-6,500s, with the SPDR S&P 500 ETF Trust up 7.4% year to date. The strategist recommends leaning into high-momentum trades such as semiconductors, semiconductor equipment, and select Korean and Taiwanese markets, noting that the Nasdaq-100 has risen 16% year to date and the Russell 2000 has surged 21%. An estimated $30 billion in pension rebalancing sell pressure is expected on June 29 and 30, which the strategist views as a tactical entry point. The fundamental case rests on corporate profits, with total US corporate profits reaching $4.4 trillion in the first quarter of 2026, growing 12.8% year over year, and JPMorgan projecting 13% S&P 500 earnings per share growth in 2026.