U.S. stocks rose in Monday morning trading amid greater earnings optimism, as investors interpreted positive earnings data as a sign that the U.S. economy is doing well.
Positive earnings data outweighed the concerns over the Chinese regulatory crackdown and even the spread of the delta variant in the U.S. (Story continues below.)
Investors will be watching the Markit U.S. manufacturing PMI data, set to be released on Monday.
U.S. stocks rose as earnings data boosted market sentiment. The Dow Jones Industrial Average gained 150 points, or, 0.43%, to 35,084. The S&P 500 tacked on an additional 21 points, or 0.48% to 4,416, as the Nasdaq Composite Index jumped 0.39%, or 57 points. (Story continues below.)
U.S. Dollar and Treasuries
The yield on the 10-year U.S. Treasuries decreased one basis point. The dollar dropped.
|U.S. Dollar Index (DXY):||91.96||-0.21||(-0.23%)|
|Treasury yields:||Yield today||Previous Yield|
|3 Month Treasury||0.053||+0.007|
|2 Year Treasury||0.178||-0.01|
|5 Year Treasury||0.679||-0.024|
|10 Year Treasury||1.227||-0.012|
|30 Year Treasury||1.906||+0.012|
Stocks To Watch
Biotech company Exicure announced entry into an exclusive collaboration with Ipsen on developing treatments for rare neurodegenerative disorders.
Chinese fashion retailer Ever-Glory announced a $5 million stock repurchase program. Stocks surged as a result.
BSQUARE, an internet of things service provider, increased on retail investor interest. Retail investors often speculate on companies with a low float and high short interest.
Commodities To Watch
Oil prices dropped on concerns over weakening demand from China. Chinese factory activity sharply decreased in July. Gold slipped.
|WTI Crude Oil||$72.76||-1.61%|
|Brent Crude Oil||$74.39||-1.35%|
The global crypto market cap fell by 2.8% in the last 24 hours.
|Symbol||Price||Chg. %||Market Cap.|
|Bitcoin||BTC||$ 39,737.91||-4.81%||$ 746.04 billion|
|Ethereum||ETH||$ 2,601.47||+0.11%||$ 303.13 billion|
|Tether USD||USDT||$ 1.00||+0.07%||$ 62.17 billion|
|Binance Coin||BNB||$ 334.64||-2.32%||$ 50.76 billion|
|Cardano||ADA||$ 1.33||-2.87%||$ 41.41 billion|
|Ripple||XRP||$ 0.7528||-1.56%||$ 33.18 billion|