Stocks rise on potential Fed easing, positive news for Intel and Tesla.

From Nasdaq: 2024-09-23 19:45:24

Stocks closed higher on Monday, with the S&P 500 up by +0.28%, Dow Jones up by +0.15%, and Nasdaq 100 up by +0.31%. Intel and Tesla saw gains after positive news. Fed Presidents support more rate cuts. US economic data mixed. China stimulus boosts global growth hopes. Europe bond yields mixed.

Minneapolis Fed President Kashkari and Chicago Fed President Goolsbee support more Fed rate cuts. Interest rates rose on Monday after dovish comments. European bond yields mixed. Eurozone PMI weaker than expected. The chances of a -25 bp rate cut by ECB at 41%. US earnings reports scheduled for September 24.

Tesla and Intel saw gains, while Regeneron Pharmaceuticals and Moody’s Corp faced losses on Monday. Walmart and Vistra Corp gained, while General Motors and Ulta Beauty faced losses. Nike down ahead of Q1 earnings report. Ciena surged after upgrade. Iron Mountain and Walmart also gained.



Read more at Nasdaq: Stocks Settle Higher on the Scope for Further Fed Easing