Stock market opens higher ahead of busy earnings week

SARASOTA, Fla. (WWSB) – Markets opened higher Monday as investors prepare for a week packed with earnings reports from major corporations.

The Dow Jones Industrial Average gained 137 points, or nearly three-tenths of one percent, to 49,235. The S&P 500 rose 37 points, more than one-half of one percent, to 6,952. The NASDAQ led gains with an increase of 155 points to 23,654, a gain of two-thirds of one percent.

“We’ve got a very good start to the week, and we’ve got a very busy week. Lots of earnings reports, and a sneak peek. Market likes them,” said ABC7 business commentator Richard Stern.

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Tuesday will see earnings reports from four major corporations: American Airlines, Boeing, UnitedHealthcare, and UPS.

Wednesday’s earnings parade includes AT&T, IBM, Meta, and Microsoft. Meta, formerly known as Facebook, and Microsoft are among the largest companies reporting midweek results.

Thursday brings earnings from Altria Group, better known as Philip Morris, along with Apple, Caterpillar, and MasterCard.

The week concludes Friday with earnings from American Express, Chevron, ExxonMobil, and Verizon.

“Stocks trade based on the value of their earnings, or the earnings and the value placed on those earnings,” Stern said.

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