The Dow Jones Industrial climbed another record with 35,150 points. Investors expect an eventful week – determined among other things by the quarterly figures of the tech giants Apple, Microsoft and Alphabet.
The US stock markets ushered in the new week with further record highs. Unexpectedly weak US economic data, however, kept earnings within tight limits on Monday.
Sales of new houses in June fell by 6.6 percent, for the third time in a row. Analysts had expected an increase of 3.5 percent.
The Dow Jones Industrial climbed another high at 35,150 points and closed with an increase of 0.24 percent at 35,144.31 points. The S&P 500 also rose to another high and ultimately gained 0.24 percent to 4422.32 points. The Nasdaq 100 also hit a record high. The technology-heavy market barometer ended 0.09 percent higher at 15,125.95 points.
The new stock exchange week will be determined by the announcement of the quarterly figures of large US technology and Internet companies such as Apple, Microsoft and Alphabet. Investors also waited eagerly for the business figures from Tesla, which the electric car manufacturer presented on Monday after the stock market closed.
“We are going into a very eventful week with big tech profits and a Fed meeting,” said market expert Chris Zaccarelli of the Independent Advisor Alliance. The market showed last week how resilient it is. But now he expects more caution from investors, as all eyes and ears are on the US Federal Reserve.
From an industry perspective, oil stocks were at the top of investor favor. The chevron papers advanced 2.1 percent. ExxonMobil and ConocoPhillips stocks rose 2.5 percent and 2.8 percent, respectively.
Tesla’s shares have already gained 2.2 percent in regular trade. After the stock market closed, when the better-than-expected quarterly figures became known, the shares recently gained another 0.9 percent after the market.
Aon shares climbed 8.2 percent after the insurance broker rejected the proposed merger with Willis Towers Watson to end litigation with the US Department of Justice. Aon announced the planned $ 30 billion acquisition of Willis Towers Watson in March 2020. The Justice Department had filed a civil antitrust lawsuit to block the deal as the acquisition would create a broker giant and eliminate competition between two of the world’s top three insurance brokers.
The euro stayed above the US $ 1.18 mark in European trading. Most recently, the common currency cost $ 1.1804. The European Central Bank (ECB) had set the reference rate at 1.1787 (Friday: 1.1767) dollars. The dollar had thus cost 0.8484 (0.8498) euros.
Long-dated US Treasuries fell slightly in late trading. The futures contract for ten-year Treasuries (T-Note-Future) recently lost 0.07 percent to 134.09 points. The yield on ten-year government bonds rose to 1.30 percent.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
