US stocks rose sharply in early trading Monday ahead of this week’s key corporate earnings reports, including several closely watched tech companies.
The Dow Jones Industrial Average rose 468.46 points, or 1.58%, to 30,103.29.
The S&P 500 rose 87.82 points, or 2.45%, to 3,670.89 and the Nasdaq
Composite was up 315.56 points, or 3.06%, to 10,636.95.
Netflix (NFLX), Tesla (TSLA) and IBM (IBM) are each to report
quarterly earnings this week. Likewise Johnson & Johnson (JNJ), United Airlines
(UAL), AT&T (T) and Verizon (VZ).
Shares traded wildly last week, mostly closing three of the five trading days
down and hit some new lows for the major indices. Analysts foresee further volatility.
“The 200-week moving average is a serious floor until then
companies fully commit or a recession officially hits, both
could last a few more months and lead to a technical rally in the near term
tenure,” Morgan Stanley’s Mike Wilson said in a note to clients
https://www.ibtimes.com.au/stock-market-today-dow-nasdaq-sharply-1839602?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Stock market today: Dow, Nasdaq up sharply