Dow’s Impressive 300+ Point Gain to Begin the Week – Live Updates

stocks rose on Monday as investors awaited a flurry of corporate earnings reports and ignored a rise in Treasury yields.

The Dow Jones Industrial Average rose 391 points, or 1.2%. The S&P 500 and Nasdaq Composite indexes each rose 1.2%.

Nike, Intel, and Travelers led the Dow Jones higher during Monday’s session, gaining more than two channels. All 11 sectors of the S&P 500 rose during the session. This week, earnings season
is heating up, with 11% of S&P 500 companies expected to report results. Big names featured this week include Johnson & Johnson, Bank of America, Netflix, and Tesla.

These results are the result of a good start to the reporting period. Brokerage firm Charles Schwab’s stock rose more than 4% on Monday after beating Wall Street’s expectations for third-quarter earnings per share. JPMorgan Chase, Wells Fargo, and UnitedHealth rose on Friday after reporting their latest quarterly results.

Some on Wall Street expect more volatility at the end of the year as yields and oil prices rise, inflation remains volatile and conflict breaks out in the Middle East. However, the focus on earnings and what the Federal Reserve will do about interest rates could make investors optimistic in the near term, according to Barclays analyst Ajay Rajadhyaksh.

“We expect bond and equity prices to remain range-bound in the near term,” Rajadhyaksha said in a note to clients on Monday.“Bond volatility and tensions in the Middle East represent headwinds for risky assets, but should be offset by earnings and the Fed’s accommodative stance.”

Over the weekend, the Israeli military continued to urge residents to face the northern Gaza Strip to evacuate in advance of a widely expected ground invasion. Meanwhile, U.S. Senate Majority Leader Chuck Schumer, D-N.Y. said on Sunday that the Senate would work to quickly pass a military aid package to help Israel fight Hamas.

The 10-year U.S. Treasury yield rose nearly 7 basis points to 4. It was at 698% on Monday as oil prices fell as investors digested the latest information on the war.

The stock market loses during a mixed week. The S&P 500 Index gained 0.5% for its second straight positive week, while the Dow Jones Industrial Average gained 0.8%. The Nasdaq Composite lost about 0.2% for the week.

According to Aoifinn Devitt, the Chief Investment Officer of Moneta Group, the previous week witnessed a sudden response to an unexpected geopolitical development. We address and adapt to the prevailing perplexity, incorporating it into our considerations before reverting to our foundational principles.

Most Dow stocks rise on earnings

A group of stocks that rose more than 2% helped the Dow during Monday’s session.

Nike, Travelers, Intel, and Salesforce rose more than 2%. The blue-chip average rose by about 1.1%, so a total of almost 400 points.

Of 30 stocks, only three were listed during the session. Walgreens fell about 1%, while JPMorgan and Apple each lost about 0.2%.

 

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top