Monday Stock Market Update
The Dow Jones Industrial Average gained, but the S&P 500 and Nasdaq Composite fell on Monday.
- The Dow Jones Industrial Average gained 98.49 points or 0.30 percent, to close at 33,171.37.
- The S&P 500 fell 3.45 points or 0.09 percent to close at 3,971.09.
- The Nasdaq Composite fell 79.08 points or 0.60 percent to close at 13,059.65.
Stocks fell early in the session after several financial firms stated that their profits would fall amid the default of a US hedge fund.
On Tuesday keep an eye out for:
- China Harmonized Index of Consumer Prices (YoY)
- China Non-Manufacturing PMI
- Carnival plc., BYD Co. Ltd., and others report earnings this weekend.
“The significant tailwinds propelling equities higher and the forces that have driven equities into, during, and now out of the pandemic remain,” analysts at Evercore ISI said. "Faster growth, rising earnings growth expectations, still historically low corporate borrowing costs, and pent up consumer demand will fuel further market gains.”