NEW YORK: Wall Street opened the week on a mixed note Monday, with the S&P 500 and Dow inching higher, while the Nasdaq slipped slightly. This cautious start reflects investor anticipation of a week filled with major corporate earnings and key U.S. economic data.
As of 09:40 a.m. ET, the Dow rose 0.60% to 40,355.53, the S&P 500 gained 0.19% to 5,535.46, while the Nasdaq edged down 0.11% to 17,364.27. Eyes remain on the tech giants dubbed "the Magnificent Seven," Apple and Meta among them, as 180 S&P 500 firms take their turn to report quarterly earnings this week.
Analysts remain bullish on large-cap tech firms winning a higher scale relative to trade disruptions, the pausing Microsoft and Nvidia. Donald Trump's evolving tariffs have sent markets on edge; the constant bombardment of contradictory signals from Washington and Beijing regarding the trade negotiations certainly does not help.
Reports of an easing together with news of the contrary swept across the board last week with renewed vigor, drawing uncertainty upon investors.
Also, some economic forecasts for the year have been downgraded by various businesses due to increased uncertainty in trade policy, carrying concerns for the greater economy. Nevertheless, a recent bounce in Boeing following a bullish analyst upgrade and optimistic revenue guidance from Opera should lend some support to the market.
By far some of the most important economic data expected this week are the U.S. payroll numbers and the PCE inflation index, which will change the outlook for Federal Reserve policy. The S&P 500 is 4% lower from November elections and 10% off February highs, being cautious for the moment.
In the days ahead, we expect the volatility to continue as the market digests earnings, trade updates, and macroeconomic signals.
[Source Credit: Business Recorder]
