Stocks struggled near recent highs but major averages closed higher for the fifth month in a row and investors looked ahead to a busy week of earnings. Crude oil registered its best monthly gain in more than a year.
The S&P 500 and the Nasdaq Composite indexes are set to close higher for the fifth month in a row amid optimism that the Fed may be likely to avoid a recession while inflation cools to 2%.
Investors turned cautious and market averages fell after aggressive rate hike worries resurfaced following stronger-than-expected second quarter economic growth.
Stocks turned higher after economy accelerated at a faster pace in the second quarter after business investment soared but consumer spending was restrained on service inflation.
Despite multiple rate hikes over the last sixteen months, interest rates are still not restrictive enough to dent the economy growth or ease labor market tightness.
Investors awaited the Fed's rate decision later today and market averages traded lower. The yields on Treasuries traded volatile ahead of the rate decision.
Market averages traded higher and tech stocks advanced in after hours trading after Microsoft and Alphabet reported earnings. The Dow Jones Industrial Average gained for the 123th day in a row as mega-cap companies outperformed broader averages.
Major averages traded higher after several large companies reported rising sales and earnings healthy operating margins. The yields on Treasury bonds rose ahead of the rate decision on Wednesday.
Market indexes continued to grind higher and tech stocks advanced ahead of key earnings later in the week. The Dow Jones advanced for the eleventh day in a row and crude oil jumped to a 3-month high.
Major averages edged higher as investors look ahead to earnings reports from leading tech companies this week. the Federal Reserve is set to announce its rate decision and provide insights into the economy on Wednesday.
In volatile trading on the final day of this week, market indexes edged higher the mega-cap heavy Dow Jones Industrial Average is set to close higher for the tenth session in a row.
Market averages began to diverge after investors reviewed quarterly results of Johnson & Johnson, Tesla, Netflix, D R Horton, and Las Vegas Sands. Mega cap driven Dow Jones extended gains for the ninth session in a row but tech heavy Nasdaq dropped after Tesla plunged 10%.
Market averages extended gains after regional bank stress worries receded and investors stayed focused on the latest batch of earnings. Tesla, Netflix, IBM and United Airlines are scheduled to report earnings after the end of regular trading session.
