Stocks Rise Pre-Bell as Traders Prepare for Busy Week of Corporate Earnings
The S&P 500 index rose 0.6% in premarket trading on Monday as investors positioned themselves ahead of a heavy week of corporate earnings. The Dow Jones Industrial Average increased 0.2%, while the Nasdaq 100 gained 1.2%. These gains follow a session on Friday in which both the S&P 500 and the Nasdaq Composite finished with weekly losses.
The S&P 500 index rose 0.6% in premarket trading on Monday as investors positioned themselves ahead of a heavy week of corporate earnings. The Dow Jones Industrial Average increased 0.2%, while the Nasdaq 100 gained 1.2%. These gains follow a session on Friday in which both the S&P 500 and the Nasdaq Composite finished with weekly losses.
Meta Platforms and Tesla are scheduled to release their latest financial results on Wednesday after the markets close. Other major corporations expected to post earnings later this week include GE Aerospace, Netflix, Philip Morris International, Thermo Fisher Scientific, Procter & Gamble, and American Express.
In the bond market, Treasury yields trended downwards early Monday. The two-year Treasury note retreated 1.1 basis points to 4.73%, and the 10-year rate fell 2.1 basis points to 5.08%. Energy prices also declined, with West Texas Intermediate crude oil decreasing 0.7% to $100.73 per barrel and Brent crude falling 1.6% to $108.15.
President Donald Trump signed an executive order on Friday that suspends the penalties and trade restrictions mandated by legislation honoring the late Senator Lindsey Graham. The law, passed in September, was scheduled to trigger additional measures against Russia beginning October 18. In a social media post on Sunday, Trump stated that his decision is part of an effort to negotiate peace in the war between Russia and Ukraine, noting he does not want to drive Russia away from the bargaining table. Trump had recently lifted sanctions on Russian diesel exports.
The Wall Street Journal reported that Russian President Vladimir Putin has proposed a meeting with Trump and Chinese President Xi Jinping next month to discuss a potential deal to end the Ukraine war. The report cited people familiar with the discussions.
Among individual equities, Broadcom shares inclined 2.5% in premarket activity after closing last week with a 4.5% decrease. Intel advanced 4.2%, and Iren gained 4.1%. In commodities and digital assets, spot gold inched 0.2% higher to $4,190 per troy ounce, while bitcoin traded up 2.5% at $82,900.