US benchmark equity indexes were on course to close higher Monday as traders awaited key corporate earnings scheduled for later in the week. The Nasdaq Composite was up 1% at 18,532.9, while the S&P 500 rose 0.9% to 5,866.9. The Dow Jones Industrial Average advanced 0.5% to 43,091.7. Barring energy, all sectors were in the green, led by technology and utilities.
Major companies such as UnitedHealth, Johnson & Johnson, Bank of America, Goldman Sachs, Citigroup, Netflix, Morgan Stanley, Procter & Gamble, and American Express are scheduled to report their latest quarterly financial results later this week, raising anticipation among investors and market analysts.
These earnings could have significant implications for market trends and investor confidence. It's crucial for stakeholders to keep an eye on these developments as they may influence stock performance and overall market conditions. Additionally, West Texas Intermediate crude oil saw a decline of 2.3%, settling at $73.82 a barrel, reflecting broader economic concerns that may impact industries reliant on energy prices.
The US bond market was closed Monday for Columbus Day, leaving many traders focused on equities as they brace for the upcoming earnings reports. The market remains cautiously optimistic, with all eyes on the corporate earnings season ahead, which is expected to provide insights into the financial health of several key players in the economy.
Overall, while the upward trend in the indexes indicates a positive sentiment, the actual performance of the earnings reports will be vital in shaping market expectations..