SP 500 Trading in Record Territory Ahead of Big Earnings Week
Video source: YouTube, CNBC Television By Damian J. Troise Stocks edged higher in afternoon trading Monday ahead of a wave of earnings reports from big U.S. companies coming out this week. The SP 500 index was up 0.2% as of 12:47 p.m. Eastern. The Dow Jones Industrial Average was up 89 points, or 0.3%, to 34,959 and the Nasdaq composite rose less than 0.1%. On Friday, the SP 500 rose 1.1% to a fresh record, rebounding from the previous days loss. Stocks in the benchmark SP 500 were split between gainers and losers. Bank stocks were solidly higher, while industrial stocks and a mix of companies selling household goods fell. Trading was muted overall, with a few stocks making big moves on little news. L Brands jumped 4.7% after the companys board approved splitting the Victorias Secret and Bath Body Works units into two separate companies. Virgin Galactic fell 14.7% followed up a successful spaceflight with plans to sell up to $500 million in stock. Earnings season kicks off this week.
SP 500 Trading in Record Territory Ahead of Big Earnings Week
Video source: YouTube, CNBC Television By Damian J. Troise Stocks edged higher in afternoon trading Monday ahead of a wave of earnings reports from big U.S. companies coming out this week. The SP 500 index was up 0.2% as of 12:47 p.m. Eastern. The Dow Jones Industrial Average was up 89 points, or 0.3%, to 34,959 and the Nasdaq composite rose less than 0.1%. On Friday, the SP 500 rose 1.1% to a fresh record, rebounding from the previous days loss. Stocks in the benchmark SP 500 were split between gainers and losers. Bank stocks were solidly higher, while industrial stocks and a mix of companies selling household goods fell. Trading was muted overall, with a few stocks making big moves on little news. L Brands jumped 4.7% after the companys board approved splitting the Victorias Secret and Bath Body Works units into two separate companies. Virgin Galactic fell 14.7% followed up a successful spaceflight with plans to sell up to $500 million in stock. Earnings season kicks off this week.