The Dow Jones falls 0.2% and moderates the strong decline with which the session started. The S&P 500 erases the initial decline by 0.6%, as does the Nasdaq Composite, which now climbs 0.3%.
Ford Motor falls nearly 10% after the automaker issued a full-year projection at the lower end of its previously stated range. On the other hand, McDonald’s rises 1.8% after exceeding expectations in both revenue and profits in the third quarter.
Traders continued to watch Treasury yields, which hit their highest level since July.
The data analyzed by Wall Street
“On the one hand, current macroeconomic conditions are very favorable: resilient growth, disinflation, stimulus and relatively healthy earnings,” Adam Crisafulli, founder of Vital Knowledge, said on CNBC’s “Closing Bell: Overtime.” “But you have expensive stocks, and then there are yield dynamics that act as a headwind.”
Traders will also be keeping an eye on earnings reports from major companies scheduled for Tuesday, which will be the busiest week of earnings season. Alphabet, Snap, Reddit, Chipotle and Advanced Micro Devices They plan to publish their quarterly results after the market closes.
The technological giants Meta Platforms and Microsoft will present their results on Wednesdaywhile Apple will do so on Thursday.
On the economic front, investors will be watching job openings and labor turnover data due in the morning, the first of several reports this week that will provide insight into the strength of the labor market. Additionally, information on housing prices and consumer confidence is expected on Tuesday.
The main averages come from a positive session. In particular, the Dow broke a five-day losing streak, while the tech-heavy Nasdaq posted its eighth positive session in the last nine.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
