Monday saw a rise in the S&P 500 as Wall Street prepared for a busy week of corporate earnings and anticipated a significant policy statement from the US Federal Reserve.
The Nasdaq Composite increased by 0.2%, while the broad market index gained 0.2%. The Dow Jones Industrial Average was just above zero.
Semiconductor saw a gain of over 12% following the release of higher-than-expected revenue and earnings, positioning the company as the broad-market index’s top performer on Monday.
Following Morgan Stanley’s designation of Tesla as a top pick, the electric vehicle stock increased by almost 5%.
The results report for this week will indicate whether tech stocks can recover from their losses from the previous week.
In the next several days, Apple, Amazon, Microsoft, and Meta Platforms will all be releasing their quarterly financial reports.
Source (CNBC)
