S&P, Nasdaq rally to records ahead of Tesla earnings
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Stocks climbed to record highs Monday as investors prepared for Tesla’s quarterly earnings report and the results from other mega-cap tech companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 33981.57 | -61.92 | -0.18% |
| SP500 | S&P 500 | 4187.62 | +7.45 | +0.18% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14138.775812 | +121.97 | +0.87% |
The benchmark S&P 500 gained 0.18% and the Nasdaq Composite rallied 0.87% as both indexes finished at all-time highs. The Dow Jones Industrial Average, meanwhile, slipped 61 points, or 0.18%.
While the S&P finished at record highs as early as last week, it was the Nasdaq’s first record since February.
The major averages received a lift after the Census Bureau said durable goods orders rose 0.5% in March, rebounding from a decline in the prior month. Excluding transportation, orders increased 1.6%, in line with forecasts.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE, INC. | 134.72 | +0.40 | +0.30% |
| AMZN | AMAZON.COM, INC. | 3,409.00 | +68.12 | +2.04% |
| FB | FACEBOOK, INC. | 303.04 | +1.91 | +0.63% |
| GOOGL | ALPHABET, INC. | 2,309.93 | +10.00 | +0.43% |
| MSFT | MICROSOFT CORP. | 261.55 | +0.40 | +0.15% |
In stocks, tech giants Apple Inc., Amazon Inc., Facebook Inc. Alphabet Inc. and Microsoft Corp. will all release their quarterly results this week. But first, Tesla was expected to report a record quarterly profit after Monday’s closing bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA, INC. | 738.20 | +8.80 | +1.21% |
A pause on Johnson & Johnson’s COVID-19 vaccine was lifted late Friday after U.S. regulators concluded the benefits outweigh the risks. The vaccine was paused earlier this month after six women out of more than 7 million who received the inoculation developed blot clots.
Elsewhere, Moderna Inc.’s COVID-19 vaccine will be reviewed by World Health Organization experts on April 30 for possible emergency-use listing, Reuters reported, citing a WHO official.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 164.24 | -1.19 | -0.72% |
| MRNA | MODERNA, INC. | 177.61 | +3.98 | +2.29% |
Good news on COVID-19 helped lift travel-related names including American Airlines Group Inc., Carnival Corp. and Hilton Hotels Corp.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP, INC. | 22.04 | +0.93 | +4.41% |
| CCL | CARNIVAL CORP. | 27.55 | +0.28 | +1.03% |
| HLT | HILTON WORLDWIDE HOLDINGS, INC. | 127.72 | +0.51 | +0.40% |
In commodities, West Texas Intermediate crude oil lost 23 cents to $61.91 per barrel and gold edged up $2.20 to $1,779.20 an ounce.
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Overseas markets were mixed.
European markets reversed early losses with Britain’s FTSE 100 rallying 0.35%, France’s CAC 40 rising 0.28% and Germany’s DAX 30 ticking up 0.11%.
In Asia, China’s Shanghai Composite fell 0.95%, Hong Kong’s Hang Seng index slid 0.43% and Japan’s Nikkei 225 advanced 0.36%.
