US stocks rose on Monday, supported by gains in some technology stocks, as traders entered a week dominated by corporate earnings and the Federal Reserve meeting.
Tesla shares jumped 17% to $197 after overcoming a major hurdle to fully self-driving technology in China.
Apple shares rose 3.74% after a bullish boost from investment firm Bernstein. On the other hand, shares of Microsoft fell by 1.49%, Alphabet by 2.20%, Meta by 1.93%, and Nvidia by 1.13%.
The Standard & Poor’s 500 Index rose 0.27%, while the Nasdaq Composite Index rose 0.19%. The Dow Jones industrial average advanced 0.3%.
Domino’s Pizza shares rose 2.85%, after it announced earnings per share that exceeded analysts’ expectations. In addition to Domino’s, Apple, McDonald’s, Coca-Cola, and Amazon are also among the major companies that will share their quarterly financial statements this week.
Monday’s moves follow a positive, if difficult, week on Wall Street, marking a reprieve from the market’s recent decline.
Monetary policy will take center stage later this week, with the Federal Reserve set to announce its latest interest rate on Wednesday. Although the central bank is widely expected to keep borrowing costs unchanged, investors will continue to closely monitor Federal Reserve Chairman Jerome Powell’s press conference.
- European sources
European stocks rose to their highest level in two weeks on Monday, continuing the strong gains they made last week, as traders awaited economic data and the Federal Reserve’s decision on monetary policy.
The European STOXX 600 index rose 0.3% after registering its first weekly gain in four weeks on Friday.
Japanese markets were on holiday on Monday, during Golden Week. The Japanese currency rose against the dollar in Asian trade on Monday, as traders pointed to widespread intervention to sell the dollar by Japanese banks after the currency fell to its lowest levels in 34 years than earlier in the day. The dollar fell to 155.25 yen in two sudden moves that took it from the 160.245 level to around 158 and then lower after that.
The price of the yen reached 155.86 yen, up 1.6% in weak trading due to the Golden Week holiday in Japan.
Bitcoin fell during Monday’s session, by 2.03% to $62,464.75, according to Coinbase data.
Spot gold prices fell 0.08% to $2,335.64 an ounce. While US gold futures rose 0.03% to $2,347.90 an ounce.
Brent crude futures fell 0.83% to $88.76 a barrel. West Texas Intermediate futures fell 0.72% to $83.26 a barrel. (page 6)
2024-04-29 16:14:45
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