US Stocks Trade Mixed
US equities were mixed on Monday as strong earnings prospects offset pressure on corporate credit conditions from elevated bond yields. The S&P 500 was flat near its record high and the Dow gained 200 points, while the Nasdaq 100 fell 0.4%. Brokers across major economies signaled buy recommendations in a variety of sectors ahead of the September-quarter earnings season, indicating that companies have sustained strong earnings growth despite a backdrop of higher interest rates. Still, energy prices and bond yields remained higher as the war in the Middle East persists, threatening more hikes by the Federal Reserve this year. Most sectors were higher, with Meta and Salesforce adding 2% and 5%, respectively, in a strong session for software application companies. On the other hand, Micron, AMD, and Marvell fell around 3% each as AI infrastructure companies continued to trade in a volatile manner.
US equities were mixed on Monday as strong earnings prospects offset pressure on corporate credit conditions from elevated bond yields. 4%. Brokers across major economies signaled buy recommendations in a variety of sectors ahead of the September-quarter earnings season, indicating that companies have sustained strong earnings growth despite a backdrop of higher interest rates. Still, energy prices and bond yields remained higher as the war in the Middle East persists, threatening more hikes by the Federal Reserve this year.
Most sectors were higher, with Meta and Salesforce adding 2% and 5%, respectively, in a strong session for software application companies. On the other hand, Micron, AMD, and Marvell fell around 3% each as AI infrastructure companies continued to trade in a volatile manner.