The S&P 500 and Nasdaq achieved new intraday highs, while the Dow Jones slightly declined. Strong corporate earnings buoyed the stock market. The S&P 500 increased 0.14%, and the Nasdaq rose 0.38%. Corporate contributions included Verizon's robust earnings report, which caused a 4% rise in its shares. Amid challenges like tariffs and Federal Reserve pressures, 73% of companies surpassed profit expectations in the first week of the earnings season. Market reactions also showed movements in Treasury yields, the U.S. dollar and commodity prices, reflecting broader economic dynamics.
U.S. stocks powered higher on Monday as strong earnings overshadowed continued uncertainty on tariffs and the White House's pressure on the Federal Reserve. The S&P 500 closed up 0.14%, and the Nasdaq rose 0.38%, paring gains after touching new all-time intraday highs.
Verizon helped the market after beating quarterly earnings forecasts and raising its profit outlook for the year. Shares of the telecom giant surged 4%.
After the first week of this earnings season, 73% of companies have beaten per-share profit estimates, above the first-week average of 68%, according to Bank of America.
On Monday, Treasury Secretary Scott Bessent told CNBC that trade talks are moving along, adding that getting a good deal is crucial to market stability.
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