US stocks gained ground on Monday, building upon last week’s solid performance. This positive sentiment comes as investors gear up for what will be a very busy week for earnings, with major companies like Amazon and Apple scheduled to report. Additionally, this week will see the release of important economic data, including the Fed meeting and the jobs report.
Investors are closely watching equity indexes, which were trending higher heading into Monday’s trades, setting a positive tone for the week ahead. Over 170 S&P 500 companies are set to report their first-quarter results this week. With valuations near the upper end of their 20-year range, positive earnings reports will be crucial in driving the market higher.
On Tuesday and Thursday, investors will eagerly await key earnings reports from Amazon and Apple, respectively. On Wednesday, all eyes will be on the Federal Reserve’s FOMC meeting for insights into the economic outlook and future policy decisions. The April jobs report is also expected to be released on Friday, with economists forecasting a gain of 250,000 jobs following a strong showing in March.
Meanwhile, commodities such as West Texas Intermediate crude oil and Brent crude both saw slight declines on Monday morning. Gold prices dipped slightly as well. The 10-year Treasury yield also edged lower while Bitcoin experienced a minor decrease in value after recent gains.
Overall, it’s shaping up to be an eventful week for the markets as investors closely monitor earnings, economic indicators and geopolitical developments.