NTR:CC - Equities Make Respectable Gains
The S&P 500 rose slightly on Monday as Wall Street attempted to maintain its momentum from last week's strong rally.
The Dow Jones Industrials gained 60.4 points by noon hour EST to 34,121.72.
The much-broader index gained 5.58 points to 4,363.55.
The NASDAQ progressed 25.67 points to 13,503.95.
Nvidia shares rose more than 1%, boosted by optimism from Bank of America ahead of its earnings report. Bumble shares fell more than 7% after announcing its CEO will step down in January.
All the major averages are coming off their best weeks of the year, kicking off November trading on a positive note. The Dow ended last week up by 5.1% for its biggest weekly advance since October 2022. The S&P advanced 5.9% in that time, and the NASDAQ jumped 6.6%. It was the best week since November 2022 for both indexes. A soft monthly jobs report also drove bond yields lower, giving a boost to equities.
Earnings season is winding down, with more than 400 S&P companies having already reported quarterly financial results. Investors this week await updates from Walt Disney, Wynn and MGM Resorts, Occidental Petroleum and D.R. Horton.
Prices for the 10-year Treasury swooned, raising yields to 4.65% from Friday's 4.57%. Treasury prices and yields move in opposite directions.
Oil prices acquired $1.32 to $81.83 U.S. a barrel.
Gold prices skidded $8.60 to $1,990.60.