Indexes finished in the green after an AI stock pullback on Friday.
The $S&P 500 Index traded 1.21% higher on preliminary numbers for the day in New York. The $Dow Jones Industrial Average gained 1.02%, and the $Nasdaq Composite Index rose 1.42%.
$NVIDIA (NVDA.US)$ was the third-biggest gainer on the S&P, advancing 4.33%, behind $Ford Motor (F.US)$s 5.68% advance and $United Airlines (UAL.US)$'s 5.85% rally. This week, investors are awaiting earnings reports from Tesla, Meta, Google, and Microsoft.
MACRO
$U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ fell to 4.974 this morning after hitting 5% briefly last week, while $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ slipped to 4.62.
This week, investors can expect macroeconomic data that may guide the market. The Purchasing Managers' Index will be released on Tuesday, first quarter gross domestic product (GDP) update will be released on Thursday, and the personal consumption expenditures (PCE), the Federal Reserve's preferred inflation gauge, will be released on Friday.
Fed Chairman Jerome Powel warned last week that rates would have to stay in place until policymakers gain more confidence that inflation is moving closer to their 2% target.
Mooers, what are you watching today?
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.