U.S. markets closed higher, beginning a new profitable week, with the Dow Jones Industrial Average rising 175 points, or about 0.5%, for the fourth straight day of gains.
The S&P 500 and Nasdaq Composite each rose about 1%.
Monday’s trading came after a weaker-than-expected April jobs report raised expectations that the U.S. Federal Reserve could start cutting interest rates later this year. followed by a sharp rise. Bullish sentiment continued to rise on Monday, in part due to Berkshire Hathaway’s annual meeting over the weekend, as investors braced for new corporate results.
Consumer and media stocks have been in the spotlight this week, with Disney being one of the most anticipated stocks on Tuesday. Uber and Airbnb are scheduled for Wednesday, followed by Warner Bros. Discovery on Thursday.
Palantir, which makes data analysis software used by the U.S. military, is scheduled to open with an earnings report after the bell on Monday, sending its stock soaring 8% on expectations for a strong quarter. Investors will especially be paying attention to what CEO Alex Karp has to say about artificial intelligence products.
Financial highlights to watch this week
- Monday: Palantir, Minute Maid parent company J&J Snack Foods, Tyson Foods, and electric vehicle maker Lucid.
- Tuesday: Disney, Ferrari, Electronic Arts, Telefonica, BP
- Wednesday: Toyota, Uber, Airbnb, Shopify
- Thursday: Honda, ING, Warner Bros. Discovery, Warner Music Group
- Friday: Canadian energy multinational Enbridge, Soho House
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Newsweek is committed to challenging conventional wisdom, finding common ground and finding connections.
