Traders work on the floor of the New York Stock Exchange (NYSE) in New York City.
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of S&P500 Investors pushed prices higher on Monday in anticipation of recent declines in silver and silver as Wall Street began trading for a new month. Bitcoin.
The broad market index was last up 0.7%, oracle Shares soared after the data center company announced it would raise up to $50 billion to build additional capacity for cloud customers. of Nasdaq Composite Although it increased by 0.8%, Dow Jones Industrial Average You have advanced 504 points, or 1%.
Bitcoin fell below $80,000 for the first time since April, a sign that investors are hedging more risk following Friday’s selloff in gold and silver. Silver, which has more than doubled in the past 12 months, fell about 30% on Friday. This was the metal’s worst single-day performance since 1980. Gold also fell by about 10%.
The cryptocurrencies and the two metals then broke off their respective lows on Monday, which helped cut losses in stocks and ease risk-off sentiment. Bitcoin last traded above $78,000, spot gold and spot silver They decreased by 4% and 7%, respectively.
Wall Street also took notice. Nvidia Because questions surrounding artificial intelligence are looming. Nvidia’s plan to spend $100 billion on OpenAI has stalled, the Wall Street Journal reported, citing people familiar with the matter. Nvidia stock fell 1%.
“It appears to us that the larger trends, which are largely positive, are still continuing,” said Tim Holland, Orion’s chief investment officer. “What matters at the moment is still earnings, the fiscal policy backdrop (which remains constructive even with the temporary shutdown), and seasonality.”
big income, employment week
More than 100 S&P 500 companies are scheduled to report this week. For that, Amazon and alphabet —Stock prices for both companies rose on Monday. While the earnings season so far has been strong overall, there have been some notable post-earnings declines. microsoft.
disney The week started with an earnings report that beat analysts’ expectations. But shares fell 4% after the company warned of headwinds from international tourists visiting domestic parks.
Nevertheless, Deutsche Bank strategists noted this weekend that profit growth is on track to be the strongest in four years. So far, about a third of S&P 500 companies have reported results, and about 78% of them have beat expectations, according to FactSet.
“If you think about what people have been concerned about here in the country about stocks, it’s going to be the rise in valuations, especially in the upper end of the range,” Holland said. “Five consecutive quarters of double-digit earnings growth will go a long way toward allaying the valuation concerns we’ve all had over the past few years.”
