US Stocks Advance to Start the Week
US stocks rose on Monday, with the S&P 500 gaining 0.7%, the Nasdaq Composite up 0.8%, and the Dow Jones Industrial Average climbing more than 230 points.
Investors are gearing up for a busy week of corporate earnings, including results from Tesla, and the long-delayed CPI report due on Friday. Optimism also grew that the government shutdown could soon end, after White House economic adviser Kevin Hassett told CNBC the shutdown is likely to end sometime this week.
Meanwhile, concerns over regional banks, which had sparked a sell-off last week, eased following solid results from several lenders. Sentiment was further boosted after President Trump moved to de-escalate trade tensions with China, ahead of a new round of US–China trade talks in Malaysia. A Wall Street Journal report also said that Trump exempted dozens of products from reciprocal tariffs.
All major sectors traded higher except consumer staples, with energy, financials, and industrials leading the gains.
Source: Tradingeconomics.com