Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, New York, U.S., March 10, 2020.
Andrew Kelly/Reuters
The Dow Jones Industrial Average notched its 11th straight winning session on Monday.
Alphabet and Microsoft report late Tuesday, while Facebook parent Meta reports late Wednesday.
Traders also expect the Fed to issue one more rate hike at its policy meeting on Wednesday.
US stocks rose on Monday as investors looked ahead to big tech earnings for the week, with the Dow Jones Industrial Average notching its 11th straight gain to mark its longest winning streak since 2017.
Alphabet and Microsoft report late Tuesday, while Facebook parent Meta reports late Wednesday. Their financial results over the past quarter will give traders room to assess the trajectory of the current tech rally, fueled by Wall Street’s excitement for AI.
Meanwhile, investors are anticipating the Fed to hike rates another 25 basis points at the conclusion of its policy meeting on Wednesday. Markets are pricing in an 83% chance that will be the last increase before central bankers pause.
Here’s where US indexes stood at the 4:00 p.m. ET close on Monday:
S&P 500: 4,554.64, up 0.40%Dow Jones Industrial Average: 35,411.24, up 0.52% (183.55 points)Nasdaq Composite: 14,058.87, up 0.19%
Here’s what else happened today:
Foreclosure filings are seeing the biggest jump in these 10 cities, according to a Realtor.com analysis.High mortgage rates will hurt buyers for years to come, Moody’s said.A more than 100-year-old buy signal is flashing in the stock market.”Big Short” investor Steve Eisman said the market will continue to melt up as long as there’s no recession.UBS downgraded Tesla stock ahead of its big Cybertruck production ramp.The US economy is in for rollercoaster inflation and could be headed for an ultra-rare “full employment recession,” according to BlackRock.
In commodities, bonds and crypto:
West Texas Intermediate crude oil rose 2.23% to $78.79 per barrel. Brent crude, oil’s international benchmark, climbed 2.3% to $82.90.Gold dipped 0.35% to $1,954.62 per ounce.The yield on the 10-year Treasury rose 2 basis points to 3.859%.Bitcoin dropped 3.77% to $29,118, while ether fell 2.77% to $1,849.