Here Is What’s Next for the Stock Market After Tremendous Gains in July

In July, the S&P 500 rose 3.6 percent and reached a record high close of 2,175, as expectations of more central bank action fueled equities, according to one analyst. 'I don't think earnings season so far has been particularly impressive,' said Josh Mahony, a market analyst with IG Markets, based in London. 'The focus isn't necessarily on company strength - I think the focus is more on what's going to happen from a monetary policy standpoint.' He said overall market sentiment is shifting to an 'easing mindset.' On Friday, the S&P 500 closed just two points shy of 2,175. TheStreet's Scott Gamm reports from Wall Street.