(Bloomberg) — The stock market started the week with a sense of hope as investors eagerly awaited corporate earnings to confirm their positive outlook.
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The S&P 500 inched closer to a new all-time high, marking its 46th record of the year. Nvidia Corp. led the way for chipmakers, while Apple Inc. saw gains following an optimistic analyst report. Trading in Treasury cash markets was closed on Monday due to a US holiday. Oil prices dipped after China’s much-anticipated Finance Ministry briefing over the weekend failed to introduce any new measures to stimulate consumption in the world’s largest importer. Meanwhile, Bitcoin surged by 5%.
The unofficial start of earnings season began last Friday, with major companies like Goldman Sachs Group Inc., Netflix Inc., and JB Hunt Transport Services Inc. set to announce their results this week. Analysts are forecasting that S&P 500 companies will report their weakest performance in the last four quarters, with only a modest 4.3% increase compared to a year ago according to data from Bloomberg Intelligence. However, guidance provided by these companies suggests a potential increase of about…
2024-10-14 10:32:35
Source from finance.yahoo.com