Stock Indices Post Record Highs on U.S. Economic Resilience
From Nasdaq:
Stocks rose on Monday, with the S&P 500, Dow Jones Industrials, and Nasdaq 100 hitting record highs. Corporate earnings reports were positive, with 85% of S&P 500 companies beating profit estimates. On the negative side, Archer-Daniels-Midland and Gilead Sciences stocks fell after poor performance and accounting issues. U.S. leading economic indicators fell 0.1% m/m. U.S. and European government bond yields also moved lower on Monday. Western Digital, JB Hunt Transport Services, Zions Bancorp, Cybersecurity stocks, NuStar Energy LP, and SentinelOne are among the stock movers, whereas Macy’s, Digital Realty Trust, Archer-Daniels-Midland, Gilead Sciences, Home Depot, Bunge Global SA, Advanced Micro Devices, B Riley Financial, and Tesla closed lower. Barchart on Monday noted the 10-year T-note yield fell -2.5 bp to 4.098%. Additionally, the Federal Reserve is in a blackout period before next week’s FOMC meeting.
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