Hey everyone! US stocks wrapped up Monday with mixed results as the market gears up for a high-energy week of earnings. With big tech leading the buzz, investors are watching closely. The Dow fell by a tiny 0.04% to 44,323.07, while the S&P 500 nudged up by 0.14% to 6,305.6, and the Nasdaq Composite inched up 0.38% to 20,974.17. 🚀
The scene was a mixed bag: communication services soared by 1.9%, and both consumer discretionary and materials were on the rise, while energy and health stocks dipped by 0.96% and 0.61% respectively.
On the policy front, US Commerce Secretary Howard Lutnick confirmed the August 1 tariff deadline, while US Treasury Secretary Scott Bessent emphasized a focus on quality deals rather than rapid action.
Sam Stovall, chief investment strategist at CFRA Research, quipped, "Rarely do you injure yourself falling out of a basement window. With expectations so low in earnings, I think that the end result will end up being better than anticipated," adding a spark of optimism to the cautious sentiment.
Earnings are in full swing with 62 S&P 500 companies reporting so far, over 85% of which have surpassed expectations, according to FactSet. Big names like Verizon surged nearly 4% after beating second-quarter expectations, and mega-cap tech players such as Alphabet, Broadcom, Amazon, and Meta Platforms are leading the rally—even though some, like Nvidia and Tesla, saw minor slips.
With Tesla gearing up to report later this week, all eyes remain on how these earnings might shape the broader market. It’s an exciting time to watch the trends unfold in the fast-paced world of stocks and tech! 📈
Reference(s):
cgtn.com
