As Wall Street prepared for a hectic week of corporate earnings, the S&P 500 increased on Monday.
The Nasdaq Composite rose 0.9%, while the broad market index gained 0.4%. The Dow Jones Industrial Average decreased by 34 points, or around 0.1%.
Whether tech stocks may now recover will be determined in part by this week’s earnings schedule. In the next several days, Apple, Amazon, Microsoft, and Meta Platforms will all be releasing their quarterly financial reports.
The Federal Reserve meeting, which is scheduled for this week, is another important event. On Wednesday, the central bank is expected to announce a new policy statement.
Although a rate reduction by the Fed is not anticipated this week, traders will be watching for signs that indicate how likely the central bank is scheduled to act during its September meeting.
Source (CNBC)
