Matthew Fox

Trader NYSE green

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., March 17, 2020.
Lucas Jackson/Reuters
  • US stocks edged higher on Monday as investors shift their focus away from earnings and towards macro data.
  • The Fed’s preferred measure of inflation will be released later this week, as will revised fourth-quarter GDP data.
  • Investors will also be paying attention to comments from Fed Presidents, looking for any clues about interest rate cuts.

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US stocks edged higher on Monday as investors shift their focus away from corporate earnings and towards macroeconomic data on the horizon this week.

With 90% of S&P 500 companies having reported fourth-quarter results, the results have impressed investors. So far, 78% of companies beat profit estimates by a median of 7%, while 65% of companies beat revenue estimates by a median of 5%, according to data from Fundstrat.

On investors’ radar this week is revised fourth-quarter GDP data, set to be released Wednesday morning. Set to roll out on Thursday is Personal Consumption Expenditures data, which is the Federal Reserve’s preferred inflation gauge. 

Finally, investors will be paying attention to comments from five Fed Presidents later in the week, listening for any clues about when the Fed might cut interest rates.

Here’s where US indexes stood shortly after the 9:30 a.m. opening bell on Monday: 

Here’s what else is going on today: 

In commodities, bonds, and crypto: 

  • West Texas Intermediate crude oil fell 0.13% to $76.39 a barrel. Brent crude, the international benchmark, dropped 0.23% to $81.43 a barrel. 
  • Gold declined by 0.52% to $2,038.80 per ounce. 
  • The 10-year Treasury yield was flat at 4.25%.
  • Bitcoin dropped 0.63% to $51,399. 

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