US stocks rose slightly at the beginning of the new week, but the pace of gains slowed. Investors are gradually losing some of their enthusiasm over the earnings season and are paying closer attention to geopolitical tensions, oil price developments, and upcoming macroeconomic data. The dollar edged higher against a basket of major global currencies, although it gave back part of its earlier gains during the day.
You might like: Trading vs. Investing
Wall Street Posted Modest Gains as AI Continues to Support Tech Sentiment
The Dow Jones index rose by 95.31 points, or 0.19%, to 49,704.47 points. The broader S&P 500 added 13.91 points, or 0.19%, closing at 7,412.84 points. The technology-focused Nasdaq gained 27.05 points, or 0.10%, to 26,274.13 points. Investor interest in technologies linked to artificial intelligence remains strong. According to Ross Mayfield, an analyst at investment firm Baird, the current wave of interest in chips and AI has its own momentum and is no longer as dependent on macroeconomic news.
The US earnings season is meanwhile nearing its end. Around 440 companies in the S&P 500 index have already reported their results, and 83% of them have exceeded analysts’ expectations. Overall year-on-year earnings growth for the first quarter is estimated at 28.6%, significantly above earlier estimates of around 14%. As the earnings season winds down, investor attention is shifting back toward broader economic indicators and geopolitical developments.
Read more: Dizicx Review – What you need to know
Energy Stocks Gained, Airlines Fell on Higher Oil Prices
Among individual S&P 500 sectors, energy stocks performed the best. The communication services sector, by contrast, declined. Intel shares advanced, extending Friday’s gains that were supported by news of a preliminary agreement with Apple. Qualcomm shares climbed to a new record, while strong earnings helped shares of media group Fox Corporation move higher. Some airline stocks moved in the opposite direction, including Southwest Airlines, Delta Air Lines, Alaska Air, and United Airlines, as higher oil prices raised concerns about pressure on profit margins.
Investors are now looking ahead to the next wave of earnings reports. This week, technology company Cisco and semiconductor equipment maker Applied Materials are among the firms expected to report results, while Nvidia and retailer Walmart are also set to publish their numbers later this month. Attention will also focus on economic data, especially reports on consumer prices and retail sales. The market will be watching whether rising energy prices are feeding into broader inflation or affecting consumer spending. The US dollar index rose by 0.1% to 97.96 points, the euro weakened by 0.1% against the dollar to USD 1.1776, the dollar rose by 0.4% against the yen to JPY 157.23, and the euro gained 0.3% against the yen to JPY 185.18.
Don’t miss: Ozios: Broker Review Your partner in investing
Source: ČTK
