Tech sector boosts Wall Street
Wall Street trade ended sharply higher on Monday, led by higher technology stocks, as investors began a week packed with earnings reports with renewed enthusiasm for market-leading companies that were hit last month. last year.
All three major stock indices extended Friday’s rally, gaining altitude as the day progressed. The Nasdaq, made up of several technology heavyweights, led gains buoyed by shares of semiconductor makers.
The Dow Jones industrial average grew 0.76% to 33,629.56 units; while the S&P 500 index increased 1.19% to trade at 4,019.81 units; and the Nasdaq Composite Index advanced 2.01%, to 11,364.41 units.
“With fourth-quarter earnings season underway, a large list of S&P 500 companies are scheduled to release results this week, and the forward-looking guidance within those announcements is likely to serve as key guidance for markets. With just over 50 companies reporting results so far, it’s too early to extract any specifics from this quarter’s results, but it’s clear to us that corporate earnings are feeling the brunt of slowing demand and rising prices. labor costs,” said analysts at consulting firm Edward Jones.