Stock Market Overview
Tue, Apr 23rd, 2024
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Stocks Settle Higher on Q1 Earnings Optimism
Barchart - Mon Apr 22, 3:38PM CDT
The S&P 500 Index ($SPX) (SPY) Monday closed up +0.87%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.67%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.02%.
US stock indexes settled moderately higher on Monday, with the Dow Jones Industrials posting a 1-week high. Reduced geopolitical tensions boosted stocks on Monday as it appears that the Iran-Israel exchange of attacks may be over for the time being. Also, a +4% jump in Nvidia on Monday lifted technology stocks as Nvidia recovered some of last Friday’s -10% plunge. In addition, the strength of bank stocks on Monday supported the overall market.
Optimism in Q1 corporate earnings was another positive factor for stocks on Monday. About 180 S&P 500 companies, or more than 40% of total capitalization, are scheduled to report earnings this week, including four of the “Magnificent Seven” megacap technology companies: Tesla, Alphabet, Microsoft, and Meta Platforms.
On the negative side for stoc... Read more
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