Wall Street Rallies as Big-Tech Earnings, Rising Oil and Bond Yields in Focus
US stock indices posted broad gains Monday, with the Dow Jones rising 380 points, as investors shift attention to big-tech earnings amid rising oil prices and bond yields.
US equity markets surged on Monday, with all major indices posting gains. The Dow Jones Industrial Average climbed 380 points, the S&P 500 added 66 points, and the Nasdaq Composite rose 330 points. The Russell 2000 gained 45 points, and the Dow Jones Transports added 210 points.
The S&P 500 Equal Weight Index rose only 16 points, lagging behind the cap-weighted index. Meanwhile, the so-called "Magnificent Seven" stocks contributed 43 points to the rally.
The broad-based advance comes as markets eye upcoming big-tech earnings reports, while oil prices and bond yields continue to rise. Investors are weighing the impact of these factors on corporate profits and valuation.
Source: FXStreet Forex News