Stocks Up Amid Earnings Optimism – Speculation that Strategic Oil Reserves Will Be Tapped

U.S. markets were higher amid growing confidence that companies can handle supply chain disruptions.

Strong corporate earnings boosted investor sentiment on Monday, coupled with expectations that the Federal Reserve will keep up its stimulus efforts.

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The performance of major retail companies will be in focus this week. Walmart, Home Depot, Target and Macy’s all report earnings this week.

Level Chg. Chg. %
DOW  36,110.00 109 0.30%
S&P 500  4,687.25 10.75 0.23%
Nasdaq  16,224.50 207.25 1.29%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury fell slightly. The dollar remained stable against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 95.06 -0.07 -0.07%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.165% -0.003 0.168%
U.S. 5 Year Treasury Note 1.211% -0.018 1.229%
U.S. 10 Year Treasury Note 1.555% -0.011 1.566%

 

Stocks To Watch

Shares of Tesla dropped as Elon Musk offered to sell more shares, in reply to a tweet by Bernie Sanders.

Boeing shares were up on news that China might remove its ban on the airplane 737 MAX. The company updated the display and the aviation control system of the aircraft, which reportedly satisfied China.

Paypal shares were higher after last week’s drop of more than 10% after its Q3 results. Many traders continue to be optimistic about the company’s business model. Moreover, retail traders took an interest in the stock.

Symbol Company Name Price Chg. %
TSLA Tesla Inc. $992.35 -3.88
PYPL Paypal $213.05 +2.24%
BA Boeing Co. $229.26 +3.82%

Oil dropped on fears of a supply boost, coupled with weaker demand. Investors are speculating that the U.S. might release some strategic reserves to cool prices. Gold dropped on heightened risk appetite. 

Resource Price Chg. %
WTI Crude Oil $79.65 -2.38%
Brent Crude Oil $80.95 -2.32%
Natural Gas $4.74 -0.98%
Gold $1,864.00 -0.24%
Silver $25.23 -0.46%
Copper $4.44 -0.21%

 

Crypto

The global crypto market cap is $2.87T, a 2.06% increase over the last 24 hours. Bitcoin’s dominance is currently 43.23%, an increase of 0.05% in the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $65,759.01 +1.78% 1.24t
Etherium ETH $4,731.48 +2.29% 558.19b
Cardano ADA $2.06 +0.83% 64.21b
Ripple XRP $1.20 +0.94% 53.04b
Dogecoin DOGE $0.2585 -0.95% 34.16b

 

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