The S&P 500 saw gains on Monday as Wall Street aimed to recover from a recent downturn, fueled by decreasing tensions in the Middle East and anticipation surrounding upcoming major tech earnings reports.
The broad market index surged by 0.4%, with the Nasdaq Composite also showing positive movement with a 0.6% increase. The Dow Jones Industrial Average registered a 116-point climb, translating to a 0.3% upswing. Both the S&P 500 and Nasdaq had endured six consecutive days of losses, dropping by 3.1% and 5.5% respectively during the previous week.
In contrast, U.S. crude prices dipped over 1% following Iran’s pledge not to escalate conflicts with Israel.
The upward trajectory coincides with an eventful week for earnings, with a particular spotlight on the performance of ‘The Magnificent Seven’ tech companies.
Source (CNBC)
