S&P 500 earnings: Jim Cramer's 'overhyped' stock ahead of Tuesday earnings

What happened: Jim Cramer, CNBC's investing personality, has expressed mixed views on stocks ahead of earnings. Taiwan Semiconductor Manufacturing Company (TSMC) reported a 77% jump in Q2 operating profit and plans a $100 billion Arizona investment. Meanwhile, Chipotle's stock has underperformed the S&P 500 this year, with analysts seeking answers on its earnings call. The S&P 500 touched record highs on potential U.S.-Iran peace deal progress but fell with oil prices.

Market impact: TSMC's strong performance and expansion plans boosted the semiconductor sector. Chipotle's underperformance may impact the restaurant sector's sentiment. Oil price fluctuations affect energy and consumer discretionary sectors. The S&P 500's record highs and subsequent pullback highlight investors' sensitivity to geopolitical risks and earnings expectations.

What to watch next: Chipotle's earnings call on July 29, where it must address its year-to-date underperformance. Simon Property Group's earnings preview, given its significant market cap and global presence. U.S.-Iran relations and oil prices, as they could drive market sentiment and sector performance.