© Reuters.
Investing.com – U.S. stock indexes rose during these trading moments on Monday, as Wall Street prepared for quarterly reports by some of the world’s largest companies.
It was trading up 41 points, or 0.1%. While the S&P 500 rose 0.2%, while advancing 0.4%.
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What moves the markets?
The second quarter earnings season is gathering momentum this week with the results of major financial institutions such as Bank of America (NYSE: -), Morgan Stanley – and Goldman Sachs (NYSE: -). Results are also due from United Airlines and Las Vegas Sands (NYSE:), as well as tech giants Tesla and Netflix (NASDAQ:).
Analysts expect a drop of more than 7% in S&P 500 earnings from last year, according to FactSet.
Traders expect a near 97% chance that the central bank will raise interest rates later this month, after hikes were paused in June, according to the Fed’s Interest Tracking Tool on Investing Saudi Arabia.
Stocks are off a winning week that saw the Dow Jones Industrial Average rise 2.3% to post its best weekly gain since March. The S&P 500 and Nasdaq Composite Indexes gained 2.4% and 3.3%, respectively. On Friday, the Dow Jones rose 113.89 points, or 0.33%, while the Standard & Poor’s and Nasdaq fell 0.1% and 0.18%, respectively.
Shares of tech giant Apple (NASDAQ:) rose 1.1%, and shares of JPMorgan (NYSE:) Chase rose 1.2%.
The moves came on the heels of strong big bank earnings and weak inflation reports which lifted investor sentiment. This raised some hopes that the Federal Reserve could bring down inflation without tipping the economy into recession.
Lucid Motors (NASDAQ:) rose 0.6% to $6.7. While Tesla shares (NASDAQ:) rose 2% to $287.5. Shares of Alibaba Group Holding Ltd. ADR (NYSE:) fell 2.2% to $92.35.
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It fell 0.4% to $1,956 an ounce.
While spot contracts fell by 0.15% to 1953 dollars an ounce.
On the other hand, it rose by 0.05% to 99,650 points.
It fell by 0.8% to $79.22 a barrel.
While Texas crude fell by 0.75% to $74.75 a barrel.
2023-07-17 15:22:00
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